Tax Laws Amendment (Tax Incentives for Innovation) Act 2016 (54 of 2016)

Schedule 2   Venture capital investment

Part 4   CGT exemption for fixed and unit trust beneficiaries of partners in ESVCLPs

Income Tax Assessment Act 1997

22   At the end of subsection 104-71(3)

Add:

; or (c) proceeds from a CGT event if:

(i) the CGT event relates to an *eligible venture capital investment; and

(ii) the share of a partner in an ESVCLP in a *capital gain or *capital loss from the CGT event is disregarded under section 118-407; or

(d) that part of the proceeds from a CGT event, relating to an eligible venture capital investment, for which there is a partial exemption under section 118-408.