Income Tax Assessment Act 1997
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Hide history noteSECTION 118-445 Meaning of committed capital 118-445(1)
A partner ' s committed capital in a partnership is the sum of the amounts that the partner may, under the partnership agreement establishing the partnership, become obliged to contribute to the partnership.
118-445(2)
It does not matter whether:
(a) the partner contributes all of those amounts; or
(b) any amounts contributed are subsequently returned to the partner; or
(c) the contributions give rise to *equity interests or *debt interests in the partnership, or both.
118-445(3)
A partnership ' s committed capital is the sum of the committed capital of all of the partnership ' s partners.
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