Document ID: chunk:federal_register_of_legislation:C2025C00029:section:7:p29
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 7 (pt 29/58)
Character Range: 2370782–2373529

the entity making the investment made its investment in the linked entity) exceeds the amount provided for under subsection (9).
 (8) In applying paragraphs (5)(b) and (7)(c), ignore the total value of the assets of an entity that is *connected with the linked entity either immediately before or immediately after the investment in the linked entity if it is so connected only because of *eligible venture capital investments made in both of those entities by the same *VCLP, *ESVCLP, *AFOF or *eligible venture capital investor.
 (9) The amount in relation to a proposed investment is:
 (a) if an *ESVCLP is to make the proposed investment—$50 million; or
 (b) in any other case—$250 million.

118‑445  Meaning of committed capital
 (1) A partner's committed capital in a partnership is the sum of the amounts that the partner may, under the partnership agreement establishing the partnership, become obliged to contribute to the partnership.
 (2) It does not matter whether:
 (a) the partner contributes all of those amounts; or
 (b) any amounts contributed are subsequently returned to the partner; or
 (c) the contributions give rise to *equity interests or *debt interests in the partnership, or both.
 (3) A partnership's committed capital is the sum of the committed capital of all of the partnership's partners.

118‑450  Values of assets and investments of entities without auditors
 (1) If, under a provision of this Subdivision, the value of an asset or investment at a particular time is the value provided for by this section, that value is:
 (a) if paragraph (b) does not apply—its *market value at that time; or
 (b) the amount stated to be its current market value, at that time or a time in the 12 months preceding that time, in a statutory declaration by:
 (i) if the entity is a company—the directors of the company; or
 (ii) if the entity is a unit trust—the trustees of the unit trust.
 (2) Paragraph (1)(b) does not apply if the Commissioner reasonably believes that the amount stated in the statutory declaration to be the *market value of the asset or investment at the relevant time is inaccurate.

118‑455  Impact Assessment of this Subdivision
 (1) As soon as practicable after 24 months after the Treasury Laws Amendment (Tax Integrity and Other Measures) Act 2018 receives the Royal Assent, the Minister must cause an impact assessment of the operation of this Subdivision and other related tax concessions to be conducted.
 (2) The impact assessment must:
 (a) examine the operation of the tax concession regime for:
 (i) investments made through a *VCLP, *ESVCLP or *AFOF; and
 (ii) investments made directly by foreign residents registered under Part 3 of the Venture Capital Act 2002; and
 (b) be conducted by the