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INCOME TAX ASSESSMENT ACT 1997 - SECT 195.60 What this Subdivision is about

INCOME TAX ASSESSMENT ACT 1997 - SECT 195.60

What this Subdivision is about

This Subdivision contains rules about the income tax treatment of limited partnerships that become, or cease to be, venture capital limited partnerships, early stage venture capital limited partnerships, Australian venture capital funds of funds or venture capital management partnerships.

It also allows the Commissioner to determine how to take account of limited partnerships having income years of less than 12 months when they become, or cease to be, venture capital limited partnerships, early stage venture capital limited partnerships, Australian venture capital funds of funds or venture capital management partnerships.

Table of sections

Operative provisions

195 - 65   Tax losses cannot be transferred to a VCLP, an ESVCLP, an AFOF or a VCMP

195 - 70   Previous tax losses can be deducted after ceasing to be a VCLP, an ESVCLP, an AFOF or a VCMP

195 - 72   Tax losses cannot be carried back to before ceasing to be a VCLP, an ESVCLP, an AFOF or a VCMP

195 - 75   Determinations to take account of income years of less than 12 months

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