The amount of venture capital deficit tax is equal to:

(a) in a case where an entity is liable to pay venture capital deficit tax because the entity has a venture capital deficit at the end of an income year—the amount of the entity's venture capital deficit at the end of the income year; and
(b) in a case where an entity is liable to pay venture capital deficit tax because the entity has a venture capital deficit immediately before it ceases to be a PDF—the amount of the entity's venture capital deficit immediately before it ceases to be a PDF.