Income Tax Act 2007 section 334

Eligibility for CITR

Section 334 sets out the conditions that must be met for an individual investor to be eligible for Community Investment Tax Relief (CITR) in respect of an investment in a body.

  • The body receiving the investment must be accredited as a community development finance institution (CDFI) at the time the investment is made
  • The investment must be a qualifying investment as defined elsewhere in the legislation
  • The general conditions specified in the legislation must also be satisfied
  • Throughout this part of the legislation, the body in which the investment is made is referred to as "the CDFI"

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