Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-5 - RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS  

Division 26 - Some amounts you cannot deduct, or cannot deduct in full  

Operative provisions  

SECTION 26-70  

26-70   Loss from disposal of venture capital equity  

You cannot deduct under this Act a loss made from the disposal or other realisation of ^* venture capital equity in a ^* resident investment vehicle if:

(a) it is made by a ^* venture capital entity or a ^* limited partnership referred to in subsection 118-515(2) ; and

(b) if that disposal or other realisation were a ^* disposal of a ^* CGT asset, any ^* capital gain or ^* capital loss would be disregarded under Subdivision 118-G .