Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 210-105 210-105 Venture capital credits
The table sets out when a credit arises in the *venture capital sub-account of a *PDF. A credit in a PDF's venture capital sub-account is called a venture capital credit .
| Credits in the venture capital sub-account | |||
| Item | If: | A credit of: | Arises on: |
| 1 | the *PDF has a *franking credit because it has *paid a PAYG instalment; and
the whole or part of the instalment is reasonably attributable to a *CGT event in relation to a *qualifying SME investment of the PDF |
that part of the franking credit that is reasonably attributable to the CGT event | the day on which the franking credit arises; or
if the PDF elects to have the *venture capital credit arise on the assessment day under section 210-115 - on that day |
| 2 | the *PDF has a *franking credit because it has *paid income tax; and
the whole or part of the payment is reasonably attributable to a *CGT event in relation to a *qualifying SME investment of the PDF |
that part of the franking credit that is reasonably attributable to the CGT event | the day on which the franking credit arises; or
if the PDF elects to have the *venture capital credit arise on the assessment day under section 210-115 - on that day |
| 3 | the *PDF incurs a liability to pay *venture capital deficit tax | the amount of the liability | immediately after the liability is incurred |
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