Document ID: chunk:federal_register_of_legislation:F2016L00816:body:0:p12
Version: federal_register_of_legislation:F2016L00816
Segment Type: other
Provision Reference: 
Character Range: 28446–31454

venture capital deficit tax return for that year.

    Pooled Development Funds which have a nil or credit balance in the venture capital sub-account at the close of the income year or immediately before they cease to be Pooled Development Funds (and which are not taken to have a deficit at the relevant time by virtue of a refund of income tax) are not required to lodge a venture capital deficit tax return.

    Date of lodgment of venture capital deficit tax return

    The venture capital deficit tax return must be lodged in the approved form by the last day of the month following the end of the income year. (This is also the date on which the venture capital deficit tax is payable).

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    Lodgment of returns in accordance with the Superannuation Industry (Supervision) Act 1993 and lodgment of statements in accordance with the Taxation Administration Act 1953

    Where a taxpayer is a trustee of a self-managed superannuation fund as defined in the Superannuation Industry (Supervision) Act 1993 at any time during the year of income ended 30 June 2016 (or approved period in lieu), then in accordance with section 35D of the Superannuation Industry (Supervision) Act 1993 the period for lodgment of a return under that section is the period ending on the day that the taxpayer is required to lodge their income tax return. This return forms part of the Self-managed superannuation fund annual return 2016 which must be lodged with the Commissioner in accordance with this instrument.

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    The requirements for the lodgment of member information statements by superannuation providers in relation to superannuation plans (other than self-managed superannuation funds) are detailed in a separate legislative instrument 'Lodgment of statements by superannuation providers in relation to superannuation plans (other than self-managed superannuation funds) for each financial year ended 30 June in accordance with the Taxation Administration Act 1953' (registered in 2014). The lodgment of member information statements by superannuation providers is required under section 390-5 of Schedule 1 to the Taxation Administration Act 1953. The member information statements for superannuation providers in relation to superannuation plans that are self-managed superannuation funds form part of the Self­-managed superannuation fund annual return 2016 which must be lodged with the Commissioner in accordance with this instrument.

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    Lodgment in the approved form

    In accordance with subsection 161A(1) of the Income Tax Assessment Act 1936, subsection 214-25(2) of the Income Tax Assessment Act 1997 and section 35D of the Superannuation Industry (Supervision) Act 1993, a return required by the Commissioner under this instrument must be lodged in the approved form. Under section 388-50 of Schedule 1 to the Taxation Administration Act 1953, a document is in the approved form if:

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