Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 210 - Venture capital franking  

Subdivision 210-G - Venture capital sub-account  

Operative provisions

SECTION 210-115   Participating PDF may elect to have venture capital credits arise on its assessment day  

210-115(1)    
Before a *PDF's assessment day for an income year, the PDF may elect to have the *venture capital credits that arise because of the *payment of PAYG instalments and income tax during that income year arise on the assessment day.

210-115(2)    
The *PDF's assessment day for an income year is the earlier of:

(a) the day on which the PDF furnishes its *income tax return for the income year; or

(b) the day on which the Commissioner makes an assessment of the amount of the PDF's taxable income for that year under section 166 of the Income Tax Assessment Act 1936 .