INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-5 - RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS  

Division 26 - Some amounts you cannot deduct, or cannot deduct in full  

Operative provisions  

SECTION 26-70   26-70   Loss from disposal of venture capital equity  


You cannot deduct under this Act a loss made from the disposal or other realisation of * venture capital equity in a * resident investment vehicle if:


(a) it is made by a * venture capital entity or a * limited partnership referred to in subsection 118-515(2) ; and


(b) if that disposal or other realisation were a * disposal of a * CGT asset, any * capital gain or * capital loss would be disregarded under Subdivision 118-G .


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