Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 61-760 Who is entitled to the ESVCLP tax offset
General case
61-760(1)
A *limited partner of an *ESVCLP is entitled to a *tax offset for an income year if:
(a) the partner contributes to the ESVCLP during the income year; and
(b) the partner is not a trust or partnership.
Members of trusts or partnerships
61-760(2)
A *member of a trust or partnership is entitled to a *tax offset for an income year if the trust or partnership would be entitled to a tax offset, under this section, for the income year if it were an individual.
Trustees
61-760(3)
A trustee of a trust is entitled to a *tax offset for an income year if:
(a) the trust would be entitled to a tax offset, under this section, for the income year if it were an individual; and
(b) in a case where the trustee has determined percentages under subsection 61-770(2) in relation to the *members of the trust - the sum of those percentages is not 100%; and
(c) the trustee is liable to be assessed or has been assessed, and is liable to pay *tax, on a share of, or all or a part of, the trust ' s *net income under section 98 , 99 or 99A of the Income Tax Assessment Act 1936 for that income year.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
