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.