Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 830.17

  (1)   Treat a reference in section   830 - 10 or 830 - 15 to foreign income tax as not including any of the following:

  (a)   * credit absorption tax;

  (b)   * unitary tax;

  (c)   * foreign GloBE tax or other foreign minimum tax.

  (2)   Foreign minimum tax mentioned in paragraph   (1)(c) includes a tax specified in regulations made for the purposes of paragraph   393(2)(c) of the Income Tax Assessment Act 1936 .

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

Table of sections

830 - 20   Treatment of company as a partnership

830 - 25   Partners are the shareholders in the company

830 - 30   Individual interest of a partner in net income etc. equals percentage of notional distribution of company's profits

830 - 35   Partner's interest in assets

830 - 40   Control and disposal of share in partnership income