Treasury Laws Amendment (Tax Integrity and Other Measures) Act 2018 (124 of 2018)

Schedule 3   Fintech and venture capital amendments

Income Tax Assessment Act 1997

2   After subsection 118-427(14)

Insert:

(14A) However, none of the following activities are ineligible activities mentioned in subsection (14):

(a) developing technology for use in relation to an activity referred to in paragraph (14)(b), (c) or (e);

(b) an activity that is ancillary or incidental to the activity of developing technology referred to in paragraph (a) of this subsection;

(c) an activity referred to in paragraph (14)(b), (c) or (e) that is the subject of a finding in force under section 118-432 at the time the investment is made.

(14B) Subsection (14A) does not apply in circumstances prescribed by regulations made for the purposes of this subsection.