INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history note[ CCH Note: Note that s 160ASEA is the first section of Div 13, and appears out of alphabetical order.]
A venture capital debit of a PDF arises when the PDF makes a declaration under section 160ASEL that a dividend is a venture capital franked dividend to a specified extent. The amount of the debit is the venture capital franked amount of the dividend.
Note:
The debit occurs as soon as the declaration is made (and not when the dividend is later paid). By way of contrast, the debit made to the class C franking account under section 160AQB only occurs when the dividend is paid.
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