Income Tax Assessment Act 1997
26‑68 Loss from disposal of eligible ven26‑68 Loss from disposal of eligible venture capital investments
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26‑68 Loss from disposal of eligible venture capital investments
Partners in VCLPs and ESVCLPs (1) You cannot deduct under this Act your share of a loss made from the disposal or other realisation of an *eligible venture capital investment if: (a) it is made by a *VCLP, or an *ESVCLP, that is *unconditionally registered; and (b) were that disposal or other realisation to be a *disposal of a *CGT asset, your share of any *capital gain or *capital loss would be disregarded under section 118‑405 or 118‑407. Partners in AFOFs (2) You cannot deduct under this Act your share of a loss made from the disposal or other realisation of an *eligible venture capital investment if: (a) it is made by: (i) an *AFOF that is *unconditionally registered; or (ii) a *VCLP, or an *ESVCLP, that is unconditionally registered and in which an AFOF that is *unconditionally registered is a partner; and (b) were that disposal or other realisation to be a *disposal of a *CGT asset, your share of any *capital gain or *capital loss would be disregarded under section 118‑410. Eligible venture capital investors (3) You cannot deduct under this Act a loss made from the disposal or other realisation of an *eligible venture capital investment if: (a) you are an *eligible venture capital investor; and (b) were that disposal or other realisation to be a *disposal of a *CGT asset, any *capital gain or *capital loss would be disregarded under section 118‑415.