Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

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Division 210 - Venture capital franking  

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Subdivision 210-G - Venture capital sub-account  

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SECTION 210-85   What this Subdivision is about  

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This Subdivision:

  • • creates a venture capital sub-account for each PDF; and
  • • identifies when venture capital credits and debits arise in the sub-account and the amount of those credits and debits; and
  • • identifies when there is a venture capital surplus or deficit in the sub-account; and
  • • creates a liability to pay venture capital deficit tax if the account is in deficit at certain times.

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