Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 830 - Foreign hybrids  

Subdivision 830-B - Extension of normal partnership provisions to foreign hybrid companies  

Note:

The normal partnership provisions will apply of their own force to foreign hybrids that are foreign hybrid limited partnerships.

SECTION 830-35   Partner's interest in assets  

830-35(1)    
The interest that each partner has in the assets of the partnership, under the partnership agreement, is equal to the percentage in subsection (2).

830-35(2)    
The percentage is the percentage that, if the capital of the company were distributed to its *shareholders on a winding-up of the company at the end of the income year, the partner, as a shareholder, could reasonably be expected to receive of the total distribution.