Income Tax Assessment Act 1997

A *limited partner of an *ESVCLP is entitled to a *tax offset for an income year if:

the partner contributes to the ESVCLP during the income year; and

the partner is not a trust or partnership.

A *member of a trust or partnership is entitled to a *tax offset for an income year if the trust or partnership would be entitled to a tax offset, under this section, for the income year if it were an individual.

A trustee of a trust is entitled to a *tax offset for an income year if:

the trust would be entitled to a tax offset, under this section, for the income year if it were an individual; and

in a case where the trustee has determined percentages under subsection 61‑770(2) in relation to the *members of the trust—the sum of those percentages is not 100%; and

the trustee is liable to be assessed or has been assessed, and is liable to pay *tax, on a share of, or all or a part of, the trust’s *net income under section 98, 99 or 99A of the Income Tax Assessment Act 1936 for that income year.