Tax Laws Amendment (2004 Measures No. 2) Act 2004 (83 of 2004)

Schedule 3   Venture capital

Income Tax Assessment Act 1997

5   Subsection 995-1(1) (definition of partnership )

Repeal the definition, substitute:

partnership means:

(a) an association of persons (other than a company or a *limited partnership) carrying on business as partners or in receipt of *ordinary income or *statutory income jointly; or

(b) a limited partnership.