Tax Laws Amendment (2007 Measures No. 2) Act 2007 (78 of 2007)
Schedule 8 Venture capital
Part 2 Early stage venture capital limited partnerships
Income Tax Assessment Act 1997
104 Section 36-25 (table headed " Tax losses of VCLPs, AFOFs and VCMPs ")
Omit the table, substitute:
Tax losses of VCLPs, ESVCLPs, 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 ESVCLP, an AFOF or a VCMP: it cannot deduct the loss while it is a VCLP, an ESVCLP, an AFOF or a VCMP. |
Subdivision 195-B |