Indirect Tax Legislation Amendment Act 2000 (92 of 2000)
Schedule 7 Joint ventures
Income Tax Assessment Act 1997
30 Subsection 995-1(1)
non-entity joint venture means an arrangement that the Commissioner is satisfied is a contractual arrangement:
(a) under which 2 or more parties undertake an economic activity that is subject to the joint control of the parties; and
(b) that is entered into to obtain individual benefits for the parties, in the form of a share of the output of the arrangement rather than joint or collective profits for all the parties.