MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]

CHAPTER 6 - INTERPRETING THIS ACT  

PART 6-2 - MEANING OF SOME IMPORTANT CONCEPTS  

Division 250 - Meaning of hold  

Operative Provisions  

SECTION 250-15   250-15   THINGS THAT ARE JOINTLY HELD  
The * MRRT law applies to a thing referred to in subsection 250-5(2) (the underlying thing ) that an * entity * holds , and that is also held by one or more other entities, as if each entity ' s interest in the thing were itself the underlying thing.

Note:

Partners do not hold partnership assets: see subsection 250-5(1) and table item 7 in section 40-40 of the Income Tax Assessment Act 1997 .




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