Income Tax Assessment Act 1936
Hide history note
View history noteDiv 7A inserted by No 47 of 1998.
Subdiv AA (heading) substituted by No 75 of 2010 , s 3 and Sch 1 item 10, applicable in relation to: (a) payments made; and (b) loans made; and (c) debts forgiven; on or after 1 July 2009. The heading formerly read:
Subdivision AA - Application of Division to non-share equity interests
Subdiv AA inserted by No 163 of 2001.
This Division applies to a corporate limited partnership in relation to a year of income in the same way as it applies to a private company in relation to a year of income, if, any time during the year of income:
(a) the partnership has fewer than 50 members; or
(b) any entity has, directly or indirectly, and for the entity's own benefit, an entitlement to a 75% or greater share of the income or capital of the partnership.
Example:
Michael has an entitlement to an 80% share of the income of 2 fixed trusts. The 2 fixed trusts have, between them, an entitlement to 100% of the income of a corporate limited partnership. For the purposes of paragraph (b), Michael has, indirectly, and for his own benefit, an entitlement to a 75% or greater share of the income of the partnership.
S 109BB inserted by No 75 of 2010, s 3 and Sch 1 item 11, applicable in relation to: (a) payments made; and (b) loans made; and (c) debts forgiven; on or after 1 July 2009.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
