Show download pdf controls
  • Section 5 - Working out the net income of a partnership



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    The notional assessable income of a CFC includes the CFC's share of the net income of a partnership. You work out the net income of the partnership in accordance with the partnership provisions of the Act. However, it is assumed that:

    • the partnership derived only certain income and gains
    • the operation of the Act is modified.
    Last modified: 05 Dec 2006QC 18000