Document ID: chunk:federal_register_of_legislation:C2016A00054:clause:2_5
Version: federal_register_of_legislation:C2016A00054
Segment Type: clause
Provision Reference: sch 2 cl 5
Character Range: 41673–42372

5  Contributions made to ESVCLPs in previous income years
Subdivision 61‑P of the Income Tax Assessment Act 1997 as added by this Part, and item 4 of this Part, apply in relation to the first income year starting on or after 1 July 2016 (the initial income year) as if:
 (a) any contribution that a limited partner of an ESVCLP made to the ESVCLP during an earlier income year were made during the initial income year; and
 (b) any eligible venture capital investments made by the ESVCLP:
 (i) during an earlier income year; and
 (ii) after the first contribution made by the partner to the ESVCLP;
  were made during the initial income year.

Part 2—ESVCLP fund size cap

Venture Capital Act 2002