INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 12A - Venture capital franking  

Subdivision C - Venture capital credits and debits  

SECTION 160ASEF   VENTURE CAPITAL CREDIT - LAPSING OF ESTIMATED VENTURE CAPITAL DEBIT DETERMINATION  

160ASEF(1)   [When termination time occurs]  

On the day on which the termination time in relation to an estimated venture capital debit of a PDF occurs, there arises a venture capital credit of the PDF equal to the estimated venture capital debit.

160ASEF(2)   [Day when substitution notice is served]  

If, on a particular day, the Commissioner serves on a PDF a notice of an estimated venture capital debit determination that is in substitution for an earlier determination, there arises on that day a venture capital credit of the PDF equal to the amount of the venture capital debit that arose because of the earlier determination.