Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 360 - Early stage investors in innovation companies  

Subdivision 360-A - Tax incentives for early stage investors in innovation companies  

Operative provisions

SECTION 360-20   Limited entitlement for certain kinds of investors  

360-20(1)  
You do not satisfy paragraph 360-15(1)(b) if:


(a) for each offer resulting in *equity interests that are *shares in the company being issued to you during the income year, none of subsections 708(8) , (10) or (11) of the Corporations Act 2001 removed the need for a disclosure document; and


(b) a total of more than $50,000 was paid for the issue to you of the shares resulting from all of those offers.

360-20(2)  
For the purposes of this section, assume that Chapter 6D of the Corporations Act 2001 applies to those offers.


 

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