Section 5 - Working out the net income of a partnership



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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