Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 210.115

Participating PDF may elect to have venture capital credits arise on its assessment day

             (1)  Before a * PDF's assessment day for an income year, the PDF may elect to have the * venture capital credits that arise because of the * payment of PAYG instalments and income tax during that income year arise on the assessment day.

             (2)  The * PDF's assessment day for an income year is the earlier of:

                     (a)  the day on which the PDF furnishes its * income tax return for the income year; or

                     (b)  the day on which the Commissioner makes an assessment of the amount of the PDF's taxable income for that year under section 166 of the Income Tax Assessment Act 1936 .



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