INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteWhere:
(a) a partnership amount is included in, or allowable as a deduction from, the assessable income of a taxpayer of a year of income;
(b) the taxpayer is:
(i) a natural person; or
other than a trustee; and
(ii) a company;
(c) the partnership amount would, but for section 128D , include withholding income;
there shall be allowed as a deduction from the assessable income of the taxpayer of the year of income an amount equal to the amount that would be the potential rebate amount in relation to the partnership amount if section 128D did not apply.
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