Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 51.55

Gain or profit from disposal of venture capital equity

                   Any gain or profit made from the disposal or other realisation of * venture capital equity in a * resident investment vehicle is exempt from income tax if:

                     (a)  it is made by a * venture capital entity or a * limited partnership referred to in subsection 118-515(2); and

                     (b)  if that disposal or other realisation were a * disposal of a * CGT asset, any * capital gain or * capital loss would be disregarded under Subdivision 118-G.



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