Venture Capital Act 2002
PART 1
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PRELIMINARY
Division 3
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A guide to this Act
SECTION 3-1
3-1
WHAT THIS ACT IS ABOUT
This Act provides for some administrative measures that are needed for the operation of: (a) the capital gains tax exemption relating to venture capital under Subdivision 118-F of the Income Tax Assessment Act 1997 (and the related provisions about similar income gains and losses); and (b) the " flow-through " treatment, under Division 5 of Part III of the Income Tax Assessment Act 1936 , of the income of limited partnerships that are used as vehicles for making venture capital investments.
This Act provides for some administrative measures that are needed for the operation of: (a) the capital gains tax exemption relating to venture capital under Subdivision 118-F of the Income Tax Assessment Act 1997 (and the related provisions about similar income gains and losses); and (b) the " flow-through " treatment, under Division 5 of Part III of the Income Tax Assessment Act 1936 , of the income of limited partnerships that are used as vehicles for making venture capital investments.
Note:
Industry Innovation and Science Australia is responsible for the operation of these measures. The Industry Research and Development Act 1986 provides for the establishment and operation of Industry Innovation and Science Australia.
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