Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p18
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 18/25)
Character Range: 7357088–7359806

year.
 (2) The reference to the partner's share, or a part of the partner's share, in the *net income is a reference to any rights that the *shareholder has under the *constitution or other rules of the company that were taken into account under section 830‑30 in working out the individual interest of the partner in the partnership's net income or *partnership loss of the income year.

Subdivision 830‑C—Special rules applicable while an entity is a foreign hybrid
Note: In the case of a foreign hybrid company, references in this Subdivision that relate to partnerships are to be read subject to Subdivision 830‑B. For example, a reference to a partner will be a reference to a shareholder in the company who is treated by Subdivision 830‑B as a partner.

Table of sections
830‑45 Partner's revenue and net capital losses from foreign hybrid not to exceed partner's loss exposure amount
830‑50 Deduction etc. where partner's foreign hybrid revenue loss amount and foreign hybrid net capital loss amount are less than partner's loss exposure amount
830‑55 Meaning of foreign hybrid net capital loss amount
830‑60 Meaning of loss exposure amount
830‑65 Meaning of outstanding foreign hybrid revenue loss amount
830‑70 Meaning of outstanding foreign hybrid net capital loss amount
830‑75 Extended meaning of subject to foreign tax

830‑45  Partner's revenue and net capital losses from foreign hybrid not to exceed partner's loss exposure amount
 (1) This section applies to a *limited partner in a *foreign hybrid in relation to an income year if the sum of the following amounts:
 (a) any amount (a foreign hybrid revenue loss amount) allowable to the partner as a deduction under subsection 92(2) of the Income Tax Assessment Act 1936 in respect of a *partnership loss of the foreign hybrid for the income year;
 (b) any *foreign hybrid net capital loss amount of the partner in respect of the foreign hybrid for the income year;
exceeds the partner's *loss exposure amount for the income year.

Reduction in foreign hybrid revenue loss amount or foreign hybrid net capital loss amount
 (2) If this section applies, the amount mentioned in paragraph (1)(a) or (b), or each of the amounts mentioned in those paragraphs, is reduced so that in total they equal the partner's *loss exposure amount. The partner must choose how much of the reduction is applied to each of the amounts.

Effect of reducing foreign hybrid net capital loss amount
 (3) If the partner's *foreign hybrid net capital loss amount in respect of the *foreign hybrid for the income year is reduced under subsection (2), the partner's *net capital gain or *net capital loss for the income year is worked out by assuming that the *capital gains and