Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 716.90

Entity's share of assessable income or deductions of partnership or trust

             (1)  If paragraph 716-75(a) or (b) applies, the entity's share is worked out by dividing:

•     the entity's individual interest as a partner in the net income of the partnership or in the partnership loss;

by:

•     the amount of that net income or partnership loss;

and expressing the result as a percentage.

             (2)  If paragraph 716-75(c) or (d) applies, the entity's share is worked out by dividing:

•     the share of the income of the trust to which the entity is presently entitled;

by:

•     the amount of that income;

and expressing the result as a percentage.



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