Income Tax Assessment Act 1936

SCHEDULE 2F - TRUST LOSSES AND OTHER DEDUCTIONS  

Division 272 - Interpretation  

Subdivision 272-B - Distribution of income or capital  

SECTION 272-55  

272-55   PARTNERSHIP DISTRIBUTION TO PARTNER  

A partnership distributes income or capital of the partnership to a person if it:

(a) pays or credits the income or capital in the form of money to the person; or

(b) transfers the income or capital in the form of property to the person; or

(c) reinvests or otherwise deals with the income or capital on behalf of the person or in accordance with the directions of the person; or

(d) applies the income or capital for the benefit of the person;

in the person ' s capacity as a partner in the partnership.