Did you contribute to an early stage venture capital limited partnership (ESVCLP) which became unconditionally registered on or after 7 December 2015?
You need to know
You may be entitled to the ESVCLP tax offset if you contributed to an ESVCLP as:
- a limited partner of the ESVCLP, or
- an investor through a partnership or a trust.
The early stage venture capital limited partnership must have become unconditionally registered on or after 7 December 2015.
Answering this question
If you are a limited partner of the ESVCLP, the amount of the offset you may be able to claim is 10% of the lesser of the following:
- your total contribution to the ESVCLP during the income year (certain exclusions apply), and
- your share (based on your interest in the entire capital of the ESVCLP at the end of the income year) of the sum of eligible venture capital investments made by the ESVCLP during the income year and within two months after the end of the income year.
Work out the amount of the tax offset you are entitled to by referring to ESVCLP tax incentives and concessions.
If you are an investor through a partnership or a trust which is itself a limited partner of an ESVCLP, the partnership or the trust will provide you with details of your entitlement to the offset arising from the partnership’s or trust’s investment.
This tax offset is non-refundable and can be carried forward if it is not utilised fully in the current income year.
Write your early stage venture capital limited partnership tax offset amount at K item T8. Do not show cents.
For more information on the early stage venture capital limited partnerships, see: Venture capital and early stage venture capital limited partnerships.
Where to go next
- Go to question T9 Early stage investor 2017
- Return to main menu Individual tax return instructions 2017
- Go back to question T7 Landcare and water facility 2017