Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 195-60 What this Subdivision is about
This Subdivision contains rules about the income tax treatment of limited partnerships that become, or cease to be, venture capital limited partnerships, early stage venture capital limited partnerships, Australian venture capital funds of funds or venture capital management partnerships.
It also allows the Commissioner to determine how to take account of limited partnerships having income years of less than 12 months when they become, or cease to be, venture capital limited partnerships, early stage venture capital limited partnerships, Australian venture capital funds of funds or venture capital management partnerships.
| Operative provisions | |
| 195-65 | Tax losses cannot be transferred to a VCLP, an ESVCLP, an AFOF or a VCMP |
| 195-70 | Previous tax losses can be deducted after ceasing to be a VCLP, an ESVCLP, an AFOF or a VCMP |
| 195-72 | Tax losses cannot be carried back to before ceasing to be a VCLP, an ESVCLP, an AFOF or a VCMP |
| 195-75 | Determinations to take account of income years of less than 12 months |
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