Taxation Laws Amendment Act (No. 5) 2002 (119 of 2002)
Schedule 3 Capital allowances
Income Tax Assessment Act 1997
12 Subsection 27-105(5)
Repeal the subsection, substitute:
(5) If the entity is a partnership and partners in that partnership can deduct amounts under Division 40 because section 40-570 or 40-665 applies, an amount equal to the *input tax credit, the *decreasing adjustment or the *increasing adjustment is apportioned to each of the partners as set out in subsection 40-570(2) or 40-665(2).
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
