Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p9
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 9/37)
Character Range: 415506–418320

or
 (b) a superannuation contributions surcharge within the meaning of the Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997.

26‑68  Loss from disposal of eligible venture capital investments

Partners in VCLPs and ESVCLPs
 (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, or an *ESVCLP, 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 or 118‑407.

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, or an *ESVCLP, 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.

26‑70  Loss from disposal of venture capital equity
  You cannot deduct under this Act a loss made from the disposal or other realisation of *venture capital equity in a *resident investment vehicle if:
 (a) it is made by a *venture capital entity or a *limited partnership referred to in subsection 118‑515(2); and
 (b) if that disposal or other realisation were a *disposal of a *CGT asset, any *capital gain or *capital loss would be disregarded under Subdivision 118‑G.

26‑75  Excess non‑concessional contributions tax cannot be deducted
  You cannot deduct under this Act an amount of *excess non‑concessional contributions tax that you pay.

26‑80  Financing costs on loans to pay superannuation contribution
 (1) You can only deduct under this Act a *financing cost connected with a contribution you make to a *superannuation plan if you can deduct the contribution under Subdivision 290‑B.
 (2) A financing cost connected with a contribution is expenditure incurred to the extent that it relates to obtaining finance to make the contribution, including:
 (a) interest, and payments in the nature of interest; and
 (b) expenses of borrowing.