Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 713 - Rules for particular kinds of entities  

Subdivision 713-E - Partnerships  

Partnership cost setting interests etc.

SECTION 713-210  

713-210   Partnership cost setting interests  


A partnership cost setting interest in a partnership is the asset that is comprised of:


(a) an interest in an asset of the partnership; or


(b) an interest in the partnership that is not covered by paragraph (a);

but does not include an asset that is comprised of a * membership interest in the partnership.

Note 1:

A partner may have more than one partnership cost setting interest that relates to an asset of the partnership (see section 106-5 ).

Note 2:

A partnership cost setting interest may relate to an asset of the partnership, but the asset of the partnership is not a partnership cost setting interest in the partnership.


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