New Business Tax System (Consolidation and Other Measures) Act 2003 (16 of 2003)
Schedule 27 Venture capital franking
Income Tax Assessment Act 1997
4 Subsection 995-1(1) (definition of deficit )
Repeal the definition, substitute:
deficit :
(a) section 205-40 sets out when a *franking account is in deficit; and
(b) section 208-125 sets out when an *exempting account is in deficit; and
(c) section 210-130 sets out when a *venture capital sub-account is in deficit.
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