Tax Laws Amendment (2004 Measures No. 2) Act 2004 (83 of 2004)
Schedule 3 Venture capital
Income Tax Assessment Act 1997
4 Subsection 995-1(1) (definition of limited partnership )
Repeal the definition, substitute:
limited partnership means:
(a) an association of persons (other than a company) carrying on business as partners or in receipt of *ordinary income or *statutory income jointly, where the liability of at least one of those persons is limited; or
(b) an association of persons (other than one referred to in paragraph (a)) with legal personality separate from those persons that was formed solely for the purpose of becoming a *VCLP, an *AFOF or a *VCMP and to carry on activities that are carried on by a body of that kind.
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).
