Document ID: chunk:federal_register_of_legislation:C2004A01073:clause:1_3
Version: federal_register_of_legislation:C2004A01073
Segment Type: clause
Provision Reference: sch 1 cl 3
Character Range: 3977–5420

3  After section 26‑65
Insert:

26‑68  Loss from disposal of eligible venture capital investments

Partners in VCLPs

 (1) You cannot deduct under this Act your share of a loss made from the disposal or other realisation of an *eligible venture capital investment if:
 (a) it is made by a *VCLP that is *unconditionally registered; and
 (b) were that disposal or other realisation to be a *disposal of a *CGT asset, your share of any *capital gain or *capital loss would be disregarded under section 118‑405.

Partners in AFOFs

 (2) You cannot deduct under this Act your share of a loss made from the disposal or other realisation of an *eligible venture capital investment if:
 (a) it is made by:
 (i) an *AFOF that is *unconditionally registered; or
 (ii) a *VCLP that is unconditionally registered and in which an AFOF that is *unconditionally registered is a partner; and
 (b) were that disposal or other realisation to be a *disposal of a *CGT asset, your share of any *capital gain or *capital loss would be disregarded under section 118‑410.

Eligible venture capital investors

 (3) You cannot deduct under this Act a loss made from the disposal or other realisation of an *eligible venture capital investment if:
 (a) you are an *eligible venture capital investor; and
 (b) were that disposal or other realisation to be a *disposal of a *CGT asset, any *capital gain or *capital loss would be disregarded under section 118‑415.