Income Tax Assessment Act 1936

PART X - ATTRIBUTION OF INCOME IN RESPECT OF CONTROLLED FOREIGN COMPANIES  

Division 11 - Keeping of records  

SECTION 468   TREATMENT OF PARTNERSHIPS  

468(1)   [Application of certain provisions to partnership]  

Subject to subsections (2) and (3), the following provisions apply to a partnership as if the partnership were a person:

(a) sections 462 to 467 (inclusive);

(b) subsections 262A(4) and (5) , in so far as those subsections apply to records kept under or for the purposes of this Division;

(c) Part III of the Taxation Administration Act 1953 , in so far as that Part of that Act relates to the provisions covered by paragraph (a) or (b) of this subsection.

468(2)   [Deemed offence by each partner]  

Where, by virtue of subsection (1), an offence is taken to have been committed by a partnership, that offence is taken to have been committed by each of the partners.

468(3)   [Defence]  

In a prosecution of a person for an offence by virtue of subsection (2), it is a defence if the person proves that the person:

(a) did not aid, abet, counsel or procure the act or omission by virtue of which the offence was taken to have been committed; and

(b) was not in any way, by act or omission, directly or indirectly, knowingly concerned in, or party to, an act or omission by virtue of which the offence is taken to have been committed.