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 aboutThis 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.
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