Taxation Laws Amendment (Venture Capital) Act 2002 (136 of 2002)
Schedule 2 Flow-through treatment, and related matters
Income Tax Assessment Act 1997
22 Section 36-25 (after the table headed Tax losses of pooled development funds (PDFs) )
Insert:
Tax losses of VCLPs, AFOFs and VCMPs
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Item |
For the special rules about this situation... |
See: |
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1. |
A limited partnership that has a tax loss becomes a VCLP, an AFOF or a VCMP: it cannot deduct the loss while it is a VCLP, an AFOF or a VCMP. |
Subdivision 195-B |