INCOME TAX ASSESSMENT ACT 1997 - SECT 960.140 Ordinary membership interest
INCOME TAX ASSESSMENT ACT 1997 - SECT 960.140
Ordinary membership interestA * membership interest in a * corporate tax entity is an ordinary membership interest if:
(a) in the case of a membership interest in a company--it is an ordinary share; and
(b) in the case of a membership interest in a * corporate limited partnership--it is an interest in the income of the partnership; and
(c) in the case of a membership interest in a * public trading trust--it is a unit in the trust.
960 - 180 Total participation interest
960 - 185 Indirect participation interest
960 - 190 Direct participation interest
960 - 195 Non - portfolio interest test