Income Tax Assessment Act 1997
An entity (except a partner in a partnership) is a venture capital entity if:
(a) it is a foreign resident; and
(b) it is a *superannuation fund for foreign residents; and
(c) it is not a *prescribed dual resident; and
(d) it is a resident of:
(i) Canada; or
(ii) France; or
(iii) Germany; or
(iv) Japan; or
(v) the United Kingdom; or
(vi) the United States of America; or
(vii) some other foreign country prescribed by the regulations; and
(e) its income is exempt, or effectively exempt, from taxation in its country of residence.
A partner in a partnership is a venture capital entity if:
(a) all of the partners in it are entities that are *venture capital entities under subsection (1); or
(b) the partnership is a *limited partnership and:
(i) all of the partners in it (except its general partner or managing partner) are venture capital entities under subsection (1); and
(ii) its general partner or managing partner has interests in less than 10% of the total value of the assets of the partnership.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.