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INCOME TAX ASSESSMENT ACT 1997 - SECT 210.130 Venture capital surplus and deficit

INCOME TAX ASSESSMENT ACT 1997 - SECT 210.130

Venture capital surplus and deficit

  (1)   A * PDF's * venture capital sub - account is in surplus at a particular time if, at that time, the sum of the * venture capital credits in the account exceeds the sum of the * venture capital debits in the account. The amount of the venture capital surplus is the amount of the excess.

  (2)   A * PDF's * venture capital sub - account is in deficit at a particular time if, at that time, the sum of the * venture capital debits in the account exceeds the sum of the * venture capital credits in the account. The amount of the venture capital deficit is the amount of the excess.

  (3)   A * PDF's * venture capital sub - account may be in * deficit even though its * franking account as a whole is in * surplus. Similarly, a PDF's venture capital sub - account may be in surplus even though its franking account as a whole is in deficit.

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