Document ID: chunk:federal_register_of_legislation:C2013C00448:section:5
Version: federal_register_of_legislation:C2013C00448
Segment Type: section
Provision Reference: s 5
Character Range: 3809–5997

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.

Endnotes

Endnote 1—Legislation history
This endnote sets out details of the legislation history of the New Business Tax System (Venture Capital Deficit Tax) Act 2003.

Act                                                                   Number and year  Assent date   Commencement                         Application, saving and transitional provisions
                                                                                                     date
New Business Tax System (Venture Capital Deficit Tax) Act 2003        17, 2003         11 Apr 2003   ss. 3–5: 29 June 2002 (see s. 2(1))
                                                                                                     Remainder: Royal Assent
Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013  88, 2013         28 June 2013  Schedule 7 (item 223): Royal Assent  —

Endnote 2—Amendment history
This endnote sets out the amendment history of the New Business Tax System (Venture Capital Deficit Tax) Act 2003.

ad. = added or inserted    am. = amended    rep. = repealed    rs. = repealed and substituted    exp. = expired or ceased to have effect
Provision affected                                                                                                                        How affected
s. 2.....................                                                                                                                 am. No. 88, 2013

Endnote 3—Uncommenced amendments [none]
There are no uncommenced amendments.

Endnote 4—Misdescribed amendments [none]
There are no misdescribed amendments.