Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:27_3:p3
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 27 cl 3 (pt 3/6)
Character Range: 360828–363705

Operative provisions

210‑60 Amount of the venture capital credit on a distribution

[This is the end of the Guide.]

Operative provisions

210‑60  Amount of the venture capital credit on a distribution

 (1) The amount of the *venture capital credit on a *distribution is that stated in the *distribution statement for the distribution, unless that amount exceeds the *franking credit on 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

[This is the end of the Guide.]

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 a fund that is a *complying superannuation fund in relation to the income year in which the distribution is made and is not a self managed superannuation fund (within the meaning of the Superannuation Industry Supervision Act 1993); or
 (ii) the trustee of a fund that is a *complying approved deposit fund in relation to the income year in which the distribution is made and is not a self managed superannuation fund (within the meaning of the Superannuation Industry Supervision Act 1993); or
 (iii) the trustee of a unit trust that is a *pooled superannuation trust in relation to the income year in which the distribution is made; 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