Income Tax Act 2007 section 932

Meaning of "qualifying partnership"

Section 932 defines what counts as a "qualifying partnership" for the purposes of the chapter on deduction of income tax at source by certain partnerships.

• A partnership is a "qualifying partnership" if at least one of its partners is a company or a local authority.
• This definition determines whether the special rules in the chapter apply to that partnership.
• The nature of the other partners (individuals, trusts, etc.) is irrelevant — only one corporate or local authority partner is needed to qualify.
• If no partner is a company or a local authority, the partnership falls outside these provisions entirely.