New Business Tax System (Venture Capital Deficit Tax) Act 2003
5Amount of tax
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5 Amount of tax
The amount of venture capital deficit tax is equal to: (a) in a case where an entity is liable to pay venture capital deficit tax because the entity has a venture capital deficit at the end of an income year—the amount of the entity’s venture capital deficit at the end of the income year; and (b) in a case where an entity is liable to pay venture capital deficit tax because the entity has a venture capital deficit immediately before it ceases to be a PDF—the amount of the entity’s venture capital deficit immediately before it ceases to be a PDF.