Taxation Laws Amendment (Venture Capital) Act 2002 (136 of 2002)
Schedule 3 Capital gains tax treatment of carried interests
Income Tax Assessment Act 1997
12 At the end of section 116-30
Add:
Carried interests
(5) This section does not apply to *CGT event A1 or C2 to the extent that the CGT event is constituted by ceasing to own:
(a) the *carried interest of a *general partner in a *VCLP or an *AFOF or a *limited partner in a *VCMP; or
(b) an entitlement to receive a payment of such a carried interest.
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