INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
PART XII
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DROUGHT INVESTMENT ALLOWANCE
Division 8
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Definitions etc.
SECTION 677
677
MEANING OF
PARTNER'S PARTNERSHIP INTEREST
A partner in a partnership has a partner's partnership interest for a year of income of an amount worked out by dividing:
(a) the individual interest of the partner in the partnership's net income or partnership loss for the year of income;
(b) the net income or partnership loss.
View history note
Hide history noteA partner in a partnership has a partner's partnership interest for a year of income of an amount worked out by dividing:
(a) the individual interest of the partner in the partnership's net income or partnership loss for the year of income;
by:
(b) the net income or partnership loss.
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