INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 17A - Roll-over relief for certain disposals of assets related to small businesses  

Subdivision A - Interpretative provisions  

SECTION 160ZZPM   ASSOCIATES  

160ZZPM(1)   [When person is an associate]  

A person is an associate of a taxpayer for the purposes of this Division if the person is:

(a) if the taxpayer is an individual who is not acting as a trustee:

(i) the spouse of the taxpayer; or

(ii) a child under 18 years of age of the taxpayer; or

(b) an entity that acts, or could reasonably be expected to act, in accordance with the directions or wishes of the taxpayer; or

(c) an entity that acts, or could reasonably be expected to act, in concert with the taxpayer.

160ZZPM(2)   [Partnerships]  

If a taxpayer is a partner in a partnership, no other partner in the partnership is taken to be an associate of the taxpayer merely because of paragraph (1)(c).