CHAPTER 3
-
SPECIALIST LIABILITY RULES
PART 3-90
-
CONSOLIDATED GROUPS
History
Part 3-90 inserted by No 68 of 2002, s 3 and Sch 1 item 2, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec
700-1
of the
Income Tax (Transitional Provisions) Act 1997
).
Division 713
-
Rules for particular kinds of entities
History
Div 713 inserted by No 117 of 2002, s 3 and Sch 5 item 6, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec
700-1
of the
Income Tax (Transitional Provisions) Act 1997
).
Subdivision 713-E
-
Partnerships
History
Subdiv 713-E inserted by No 67 of 2003, s 3 and Sch 4 item 1, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec
700-1
of the
Income Tax (Transitional Provisions) Act 1997
).
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.
History
S 713-210 inserted by No 67 of 2003, s 3 and Sch 4 item 1, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec
700-1
of the
Income Tax (Transitional Provisions) Act 1997
).