Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 359

    An entity that is a partner in a CFP holds an attribution tracing interest in the CFP at a particular time equal to the percentage that the entity holds, or is entitled to acquire, at that time of:

  (a)   the total interests in the profits of the CFP; or

  (b)   the total interests in the CFP property;

or, if those percentages differ, the greater of those percentages.