Section 94E — Income Tax Assessment Act 1936: Continuity of business test

In determining whether a limited partnership is a corporate limited partnership in relation to a year of income, the partnership passes the continuity of business test if, and only if: (a) at all times during the period: (i) beginning on 19 August 1992; and (ii) ending at the end of the year of income; the partnership carried on the same business as it carried on immediately before the beginning of that period; and (b) the partnership did not, at any time during that period, derive income from a business of a kind that it did not carry on, or from a transaction of a kind that it had not entered into in the course of its business operations, before that period.