Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 214 - Administering the imputation system  

Subdivision 214-A - Franking returns  

Operative provisions

SECTION 214-35   214-35   Venture capital sub-account balance  

A *PDF's venture capital sub-account balance at a particular time is:

(a) if the PDF has a *venture capital surplus or a *venture capital deficit at that time - the amount of the surplus or deficit; or

(b) if the entity does not have a venture capital surplus or a venture capital deficit at that time - nil.