Taxation Laws Amendment (Venture Capital) Act 2002 (136 of 2002)
Schedule 3 Capital gains tax treatment of carried interests
Income Tax Assessment Act 1997
8 After subsection 115-25(2)
(2A) If the *capital gain results from a *CGT event K9 happening:
(a) subsection (1) does not apply; and
(b) to be a *discount capital gain, the *carried interest to which the CGT event relates must arise under a partnership agreement entered into at least 12 months before the CGT event.