Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 480

                   This Subdivision explains the meanings of certain key concepts as they are used for the purposes of this Part. For those purposes it is necessary to determine:

                     (a)  what is meant by a FIF or a FLP (sections 481 and 482); and

                     (b)  what is meant by an interest in a FIF or a FLP (section 483); and

                     (c)  the taxpayers to whose interests in FIFs or FLPs this Part applies (section 485); and

                     (d)  what is a notional accounting period of a FIF or a FLP (sections 486 and 487).