Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 210.70

Additional information to be included when a distribution is franked with a venture capital credit

  (1)   A * participating PDF that makes a * distribution * franked with a venture capital credit must include in the * distribution statement given to the recipient:

  (a)   a statement that there is a * venture capital credit of a specified amount on the distribution; and

  (b)   a statement to the effect that the venture capital credit is only relevant for a taxpayer who is:

  (i)   the trustee of an entity that is a * complying superannuation entity in relation to the income year in which the distribution is made and is not a * self managed superannuation fund; or

  (iv)   a * life insurance company.

  (2)   If, under subsection   (1), a statement must be included in a * distribution statement, the distribution statement is taken not to have been given unless the statement is included.


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