Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 713.210

    A partnership cost setting interest in a partnership is the asset that is comprised of:

  (a)   an interest in an asset of the partnership; or

  (b)   an interest in the partnership that is not covered by paragraph   (a);

but does not include an asset that is comprised of a * membership interest in the partnership.

Note 1:   A partner may have more than one partnership cost setting interest that relates to an asset of the partnership (see section   106 - 5).

Note 2:   A partnership cost setting interest may relate to an asset of the partnership, but the asset of the partnership is not a partnership cost setting interest in the partnership.