INCOME TAX ASSESSMENT ACT 1997 - SECT 26.70 Loss from disposal of venture capital equity

INCOME TAX ASSESSMENT ACT 1997 - SECT 26.70

    You cannot deduct under this Act a loss made from the disposal or other realisation of * venture capital equity in a * resident investment vehicle if:

  (a)   it is made by a * venture capital entity or a * limited partnership referred to in subsection   118 - 515(2); and

  (b)   if that disposal or other realisation were a * disposal of a * CGT asset, any * capital gain or * capital loss would be disregarded under Subdivision   118 - G.