ICTA88/S117, ITA07/S104 and ICTA88/S118 prevent a limited partner from obtaining relief for losses incurred under certain provisions, including ICTA88/S380 and ITA07/S64 relief and ICTA88/S381 and ITA07/S72 relief, unless an adequate capital contribution has been made to the partnership before the end of the tax year in which the loss is sustained (explained at BIM72105 – see LLM10000).

Want to read more?

This content requires a Croner-i Tax and Accounting subscription.

Existing subscriber? Log in

No subscription?

Contact us to discuss your requirements.