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Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

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Division 713 - Rules for particular kinds of entities  

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Subdivision 713-E - Partnerships  

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Guide to Subdivision 713-E

SECTION 713-200   What this Subdivision is about  

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This Subdivision modifies tax cost setting rules in Divisions 701 , 705 and 711 so that they take account of the special characteristics of partnerships. The modifications apply in these situations:

  • (a) an entity that is a partner in a partnership becomes a subsidiary member of a consolidated group;
  • (b) a partnership becomes, or ceases to be, a subsidiary member of a consolidated group.
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    TABLE OF SECTIONS
    TABLE OF SECTIONS
    Objects
    713-205 Objects of this Subdivision
    Partnership cost setting interests etc.
    713-210 Partnership cost setting interests
    713-215 Terminating value for partnership cost setting interest
    Setting tax cost of partnership cost setting interests
    713-220 Set tax cost of partnership cost setting interests if partner joins consolidated group
    713-225 Tax cost setting amount for partnership cost setting interest
    713-230 (Repealed by No 56 of 2010 )
    Special rules where partnership joins consolidated group
    713-235 Partnership joins group - set tax cost of partnership assets
    713-240 Partnership joins group - tax cost setting amount for partnership asset
    713-245 (Repealed by No 56 of 2010 )
    Special rules where partnership leaves consolidated group
    713-250 Partnership leaves group - standard provisions modified
    713-255 Partnership leaves group - tax cost setting amount for partnership cost setting interests
    713-260 Partnership leaves group - tax cost setting amount for assets consisting of being owed certain liabilities
    713-265 Partnership leaves group - adjustments to allocable cost amount of partner who also leaves group
    713-270 (Repealed by No 56 of 2010 )


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