Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p2
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 2/15)
Character Range: 8018406–8021195

capital account reduced by the amount (if any) that represents amounts unpaid on shares.
parent: an individual is the parent of anyone who is the individual's *child.
parental leave pay has the meaning given by the Paid Parental Leave Act 2010.
part of the *spectrum specified in a *spectrum licence has the meaning given by section 5 of the Radiocommunications Act 1992.
partial interest in a *corporate tax entity has the meaning given by subsection 208‑25(3).
participant:
 (a) participant, in relation to a *GST joint venture, has the meaning given by section 195‑1 of the *GST Act; and
 (a) participant in a *forestry managed investment scheme has the meaning given by subsection 394‑15(4).
participating benefit has the meaning given by section 15 of the Life Insurance Act 1995.
participating PDF has the meaning given by section 210‑40.
partnership means:
 (a) an association of persons (other than a company or a *limited partnership) carrying on business as partners or in receipt of *ordinary income or *statutory income jointly; or
 (b) a limited partnership.
Note 1: Division 830 treats foreign hybrid companies as partnerships.
Note 2: A reference to a partnership does not include a reference to a corporate limited partnership: see section 94K of the Income Tax Assessment Act 1936.
partnership cost setting interest, in a partnership, has the meaning given by section 713‑210.
partnership loss has the same meaning as in Division 5 of Part III of the Income Tax Assessment Act 1936.
partner's proportion has the meaning given by subsection 355‑505(2).
part of a distribution that is franked with an exempting credit has the meaning given by section 976‑10.
part of a distribution that is franked with a venture capital credit has the meaning given by section 976‑15.
Part VA investment means an investment of a kind mentioned in section 202D of the Income Tax Assessment Act 1936.
party, in relation to a *structured arrangement, has the meaning given by subsection 832‑210(3).
passes: a *CGT asset passes to a beneficiary in an individual's estate in the way described in section 128‑20.
PAYG instalment means an instalment payable under Division 45 in Schedule 1 to the Taxation Administration Act 1953.
PAYG instalment period means:
 (a) for a *quarterly payer—an *instalment quarter in relation to which a *PAYG instalment is paid; and
 (b) for an *annual payer—an income year in relation to which a PAYG instalment is paid.
PAYG instalment variation credit means a credit under section 45‑215 or 45‑420 in Schedule 1 to the Taxation Administration Act 1953.
PAYG payment period means:
 (a) for a *personal services entity that is a *small withholder—any *quarter; or
 (b) for any other personal services entity—any month.
PAYG withholding branch has the meaning given