Document ID: chunk:federal_register_of_legislation:C2025C00029:section:5:p10
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 5 (pt 10/13)
Character Range: 3674737–3677668

the distribution.
 (2) If the amount of the *venture capital credit stated in the *distribution statement for a *distribution exceeds the *franking credit on the distribution, the amount of the venture capital credit is taken to be the same as the amount of the franking credit, and not the amount stated in the distribution statement.

Subdivision 210‑E—Distribution statements

Guide to Subdivision 210‑E

210‑65  What this Subdivision is about
      A participating PDF that makes a distribution franked with a venture capital credit must provide additional information in the distribution statement given to the recipient.

Table of sections

Operative provisions
210‑70 Additional information to be included when a distribution is franked with a venture capital credit

Operative provisions

210‑70  Additional information to be included when a distribution is franked with a venture capital credit
 (1) A *participating PDF that makes a *distribution *franked with a venture capital credit must include in the *distribution statement given to the recipient:
 (a) a statement that there is a *venture capital credit of a specified amount on the distribution; and
 (b) a statement to the effect that the venture capital credit is only relevant for a taxpayer who is:
 (i) the trustee of an entity that is a *complying superannuation entity in relation to the income year in which the distribution is made and is not a *self managed superannuation fund; or
 (iv) a *life insurance company.
 (2) If, under subsection (1), a statement must be included in a *distribution statement, the distribution statement is taken not to have been given unless the statement is included.

Subdivision 210‑F—Rules affecting the allocation of venture capital credits

Guide to Subdivision 210‑F

210‑75  What this Subdivision is about
      If a PDF has a venture capital surplus when it makes a distribution frankable with venture capital credits, it must frank the distribution with venture capital credits.

Table of sections

Operative provisions
210‑80 Draining the venture capital surplus when a distribution frankable with venture capital credits is made
210‑81 Distributions to be franked with venture capital credits to the same extent
210‑82 Consequences of breaching the rule in section 210‑81

Operative provisions

210‑80  Draining the venture capital surplus when a distribution frankable with venture capital credits is made
 (1) If a *participating PDF would otherwise have a *venture capital surplus at the time a *distribution that is *frankable with a venture capital credit is made, the PDF must either:
 (a) allocate a *venture capital credit to the distribution that is equal to the *franking credit on the distribution; or
 (b) allocate a venture capital credit to the distribution that either alone or when added to venture capital credits allocated to other distributions made under the resolution of the PDF under which