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.