Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

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History

Part 3-90 inserted by No 68 of 2002, s 3 and Sch 1 item 2, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec 700-1 of the Income Tax (Transitional Provisions) Act 1997 ).

Division 713 - Rules for particular kinds of entities  

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History

Div 713 inserted by No 117 of 2002, s 3 and Sch 5 item 6, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec 700-1 of the Income Tax (Transitional Provisions) Act 1997 ).

Subdivision 713-E - Partnerships  

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History

Subdiv 713-E inserted by No 67 of 2003, s 3 and Sch 4 item 1, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec 700-1 of the Income Tax (Transitional Provisions) Act 1997 ).

Partnership cost setting interests etc.

SECTION 713-210  

713-210   Partnership cost setting interests  

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A partnership cost setting interest in a partnership is the asset that is comprised of:

(a) an interest in an asset of the partnership; or

(b) an interest in the partnership that is not covered by paragraph (a);

but does not include an asset that is comprised of a ^* membership interest in the partnership.

Note 1:

A partner may have more than one partnership cost setting interest that relates to an asset of the partnership (see section 106-5 ).

Note 2:

A partnership cost setting interest may relate to an asset of the partnership, but the asset of the partnership is not a partnership cost setting interest in the partnership.

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History

S 713-210 inserted by No 67 of 2003, s 3 and Sch 4 item 1, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec 700-1 of the Income Tax (Transitional Provisions) Act 1997 ).

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