21‑1 What this Division is about21‑1 What this Division is about

21‑1 What this Division is about

Industry Innovation and Science Australia can register entities as eligible venture capital investors, and revoke their registration.

Registration is one of the requirements before investments of venture capital by an entity directly (rather than through a limited partnership) can attract the operation of section 118‑415 of the Income Tax Assessment Act 1997 (and the related provisions about similar income gains and losses).

Note: Section 118‑415 of the Income Tax Assessment Act 1997 gives to an individual investor an equivalent capital gains tax exemption to the one that the investor could have, under section 118‑405 or 118‑410 of that Act, from investing through a limited partnership registered under Part 2 of this Act.

Table of sections

Operative provisions

21‑5 Registration as eligible venture capital investors

21‑10 Period within which application must be decided

21‑15 When registration is in force

21‑20 Annual return by eligible entity

21‑25 Revocation at discretion of Industry Innovation and Science Australia

21‑30 Revocation on application