Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:3_4
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 3 cl 4
Character Range: 287823–289201

4                                              a venture capital debit of a PDF arose under this Part and the amount of the debit reflected an applicable general company tax rate of 34%         (a) a venture capital credit of the PDF equal to the amount of the venture capital debit; and
                                                                                                                                                                                                  (b) a venture capital debit equal to the amount worked out using the formula:

 (2) The amount of a credit or debit reflects an applicable general company tax rate of 34% if:
 (a) the applicable general company tax rate used to calculate the amount of the credit or debit is 34%; or
 (b) the debit arises under subsection 160AQC(3) or section 160ASEI and the application for the estimated debit was lodged on or after 9 June 2000; or
 (c) the credit or debit is equal to the amount of an earlier debit or credit and the earlier debit or credit reflected an applicable general company tax rate of 34%.

Note 1: Paragraph (a)—the applicable general company tax rate will always be involved in the calculation of a credit or debit if an "adjusted amount" is used in the calculation.

Note 2: Paragraph (c) covers provisions such as sections 160APV, 160APVB, 160APVF, 160AQCA, 160AQCCB and 160AQCM.