Commonwealth Consolidated Acts

VENTURE CAPITAL ACT 2002 - SECT 3.1

                   This Act provides for some administrative measures that are needed for the operation of:

                     (a)  the capital gains tax exemption relating to venture capital under Subdivision 118-F of the Income Tax Assessment Act 1997 (and the related provisions about similar income gains and losses); and

                     (b)  the "flow-through" treatment, under Division 5 of Part III of the Income Tax Assessment Act 1936 , of the income of limited partnerships that are used as vehicles for making venture capital investments.

Note:          Innovation Australia is responsible for the operation of these measures. The Industry Research and Development Act 1986 provides for the establishment and operation of Innovation Australia.