Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 195 - Special types of company  

Subdivision 195-B - Limited partnerships  

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History

Subdiv 195-B inserted by No 136 of 2002.

Operative provisions

SECTION 195-65  

195-65   Tax losses cannot be transferred to a VCLP, an ESVCLP, an AFOF or a VCMP  

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A *limited partnership ' s *tax loss for a *loss year cannot be deducted in a later income year during which the partnership is a *VCLP, an *ESVCLP, an *AFOF or a *VCMP.

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History

S 195-65 amended by No 78 of 2007 , s 3 and Sch 8 items 140 and 141, by inserting " , an *ESVCLP " after " a *VCLP " , applicable to assessments for the 2007-2008 year of income and later years of income.

S 195-65 inserted by No 136 of 2002.

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