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Income Tax Assessment Act 1997
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Turn the raw legal text into a practical explanation grounded in Income Tax Assessment Act 1997.
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.