Document ID: chunk:federal_register_of_legislation:C2025C00014:section:26ag:p4
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 26AG (pt 4/6)
Character Range: 205835–208378

relevant amount, would, by virtue of paragraph (1)(d), be an amount to which this section applies in relation to that partner in relation to the year of income;
the following provisions have effect:
 (c) the relevant amount shall not be taken into account, for the purposes of any provision of this Act, in calculating the net income of the partnership, or the partnership loss, of any year of income in accordance with section 90; and
 (d) for the purposes of the application of this Act in relation to a taxpayer being a partner in the partnership, an amount equal to:
 (i) so much of the relevant amount as the partners have agreed is derived for the benefit of the taxpayer; or
 (ii) if the partners have not agreed as mentioned in subparagraph (i)—so much of the relevant amount as bears to the relevant amount the same proportion as the individual interest of the taxpayer in the net income of the partnership of the year of income in which the relevant amount was derived by the partnership bears to that net income or, as the case requires, the individual interest of the taxpayer in the partnership loss for that year of income bears to that partnership loss;
  shall be taken to have been derived by the taxpayer.
 (10) Where:
 (a) a partnership has disposed of the whole or a part of the copyright or of an interest in the copyright in a film;
 (b) an amount (in this subsection referred to as the relevant amount) is receivable by the partnership as consideration in respect of that disposal; and
 (c) if the relevant amount were receivable by a partner in the partnership, the relevant amount or a part of the relevant amount would, by virtue of paragraph (1)(e), be an amount to which this section applies in relation to that partner in relation to the year of income;
the following provisions have effect:
 (d) the relevant amount shall not be taken into account, for the purposes of any provision of this Act, in calculating the net income of the partnership, or the partnership loss, of any year of income in accordance with section 90;
 (e) for the purposes of the application of this Act in relation to a taxpayer being a partner in the partnership, an amount equal to:
 (i) so much of the relevant amount as the partners have agreed is receivable for the benefit of the taxpayer; or
 (ii) if the partners have not agreed as mentioned in subparagraph (i)—so much of the relevant amount as bears to the relevant amount the same proportion as the individual interest of the taxpayer in the net income of the partnership of the