Section EJ 17 — Income Tax Act 2007: Partnership interests and disposal of part of asset

EJ 17 Partnership interests and disposal of part of asset In sections EJ 12 to EJ 16 , unless the context requires otherwise,— (a) a partner is treated as having a share or interest in a petroleum permit or other property of a partnership to the extent of their interest in the income of the partnership: (b) references to the disposal of an asset apply equally to the disposal of part of an asset. Defined in this Act: dispose , income , petroleum permit , Compare: 2004 No 35 s EJ 15