Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:27_20:p2
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 27 cl 20 (pt 2/2)
Character Range: 393049–394260

20 June 2002 under Part IIIAA of the Income Tax Assessment 1936 (the 1936 Act).

 (2) If, but for this subsection, the PDF would have a venture capital surplus under Part IIIAA of the 1936 Act at the end of 30 June 2002 (the original surplus):
 (a) a venture capital debit equal to the original surplus is taken to arise for the PDF under Part IIIAA of the 1936 Act at the end of 30 June 2002; and
 (b) a venture capital credit arises on 1 July 2002 in the venture capital sub‑account established under section 210‑100 of the Income Tax Assessment Act 1997 (the 1997 Act) for the PDF.

 (3) The amount of the venture capital credit is worked out using the formula:

 (4) If, but for this subsection, the PDF would have a venture capital deficit under Part IIIAA of the 1936 Act at the end of 30 June 2002 (the original deficit):
 (a) a venture capital credit equal to the original deficit is taken to arise for the PDF under Part IIIAA of the 1936 Act at the end of 30 June 2002; and
 (b) a venture capital debit arises on 1 July 2002 in the venture capital sub‑account established under section 210‑100 of the 1997 Act for the PDF.

 (5) The amount of the venture capital debit is worked out using the formula: