Economic Expansion Incentives (Relief from Income Tax) Act 1967 · 2020 Revised Edition · Part 8 · Investment Allowances
42. Application of Parts 8 and 10 and section 3 in relation to corporate partnerships and partners of corporate partnerships
Feedback & supportLast amended by an amending law of 2020.
Regulations may be made under section 64(1) to apply the provisions of Parts 8 and 10 and section 3 (called in this section the applied provisions) for the following purposes:
to enable an investment allowance to be given to a corporate partnership;
to apportion the investment allowance given to the corporate partnership to its partners.
Without limiting section 64(1), the regulations mentioned in subsection (1) may make provision —
to make any modification to any of the applied provisions that is necessary or expedient for the purposes mentioned in subsection (1);
to specify the circumstances under which a corporate partnership is considered to have sold, leased out or otherwise disposed of any assets in respect of which an investment allowance has been given; and
for the recovery of an investment allowance given to a corporate partnership from its partners, and the waiver of any liability of a partner to repay any part of the investment allowance.[66A