Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p55
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 55/59)
Character Range: 8004152–8006770

by section 292‑85.
non‑concessional MIT income has the meaning given by section 12‑435 in Schedule 1 to the Taxation Administration Act 1953.
non‑debt liabilities, of an entity and at a particular time, means liabilities that the entity has at that time, other than:
 (a) any *debt capital of the entity; or
 (b) any *equity interest in the entity; or
 (c) if the entity is a *corporate tax entity—a provision for a *distribution of profit; or
 (ca) if paragraph (c) does not apply—a provision for a distribution to the entity's *members; or
 (d) any liability of the entity under a securities loan arrangement if, as at that time, the entity:
 (i) has received amounts for the sale of securities (other than any fees associated with the sale) under the arrangement; and
 (ii) has not repurchased the securities under the arrangement; or
 (e) a liability of the entity, to the extent that it meets the conditions for being taken into account in working out the *borrowed securities amount of the entity as at that time.
non‑entity joint venture means an arrangement that the Commissioner is satisfied is a contractual arrangement:
 (a) under which 2 or more parties undertake an economic activity that is subject to the joint control of the parties; and
 (b) that is entered into to obtain individual benefits for the parties, in the form of a share of the output of the arrangement rather than joint or collective profits for all the parties.
non‑equity share means a *share that is not an *equity interest in the company.
Note: A share will not be an equity interest if it is characterised as, or forms part of a larger interest that is characterised as, a debt interest under Subdivision 974‑B.
non‑fixed trust means a trust that is not a *fixed trust.
non‑membership equity interest: an interest in an entity is a non‑membership equity interest in the entity at a time to the extent that it is not an accounting liability (within the meaning of subsection 705‑70(1)) of the entity at that time, if:
 (a) the interest is not a *membership interest in the entity at that time; and
 (b) the interest is not a *debt interest in the entity at that time.
In determining the extent to which the interest is not an accounting liability at that time:
 (c) treat each reference in subsection 705‑70(1) to the joining entity as instead being a reference to the entity; and
 (d) treat the reference in that subsection to the joining time as instead being a reference to that time.
non‑member spouse means a non‑member spouse within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.
non‑portfolio interest test: an