Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 976.15

The part of a distribution that is franked with a venture capital credit

                   The part of a distribution that is franked with a venture capital credit is worked out using the formula:

where:

"applicable gross-up rate" means the * corporate tax gross-up rate of the entity making the distribution for the income year in which the distribution is made.

Table of sections

CGT assets

977-5        Realisation event

977-10      Loss realised for income tax purposes

977-15      Gain realised for income tax purposes

Trading stock

977-20      Realisation event

977-25      Disposal of trading stock: loss realised for income tax purposes

977-30      Ending of an income year: loss realised for income tax purposes

977-35      Disposal of trading stock: gain realised for income tax purposes

977-40      Ending of an income year: gain realised for income tax purposes

Revenue assets

977-50      Meaning of revenue asset

977-55      Loss or gain realised for income tax purposes

CGT assets



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