INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
[ CCH Note: Note that s 160ASEA is the first section of Div 13, and appears out of alphabetical order.]
A venture capital debit of a PDF arises when the PDF makes a declaration under section 160ASEL that a dividend is a venture capital franked dividend to a specified extent. The amount of the debit is the venture capital franked amount of the dividend.
The debit occurs as soon as the declaration is made (and not when the dividend is later paid). By way of contrast, the debit made to the class C franking account under section 160AQB only occurs when the dividend is paid.