Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 360 - Early stage investors in innovation companies  

Subdivision 360-A - Tax incentives for early stage investors in innovation companies  

Operative provisions

SECTION 360-25   Amount of the tax offset - general case  

360-25(1)  
If subsection 360-15(1) applies, the amount of the *tax offset is 20% of the total amount paid for the *shares to which paragraph 360-15(1)(b) applies.

Note:

If subsection 360-15(1) applies for shares issued to you at several times during the income year, then this subsection uses the total amount paid for all of those shares.

360-25(2)  
However, reduce this amount to the extent necessary to ensure that the sum of the following does not exceed $200,000:


(a) the sum of the *tax offsets under this Subdivision for the income year for which you and your *affiliates (if any) are entitled;


(b) the sum of the tax offsets under this Subdivision that you and your affiliates (if any) carry forward to the income year.


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