Income Tax Assessment Act 1997



Division 830 - Foreign hybrids  

Subdivision 830-B - Extension of normal partnership provisions to foreign hybrid companies  


The normal partnership provisions will apply of their own force to foreign hybrids that are foreign hybrid limited partnerships.

SECTION 830-35   Partner's interest in assets  

The interest that each partner has in the assets of the partnership, under the partnership agreement, is equal to the percentage in subsection (2).

The percentage is the percentage that, if the capital of the company were distributed to its *shareholders on a winding-up of the company at the end of the income year, the partner, as a shareholder, could reasonably be expected to receive of the total distribution.


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