Part H
Taxation of certain entities
Agents
HD 20BGeneral partners and partners carrying on with or managing business involving absentees
This section applies to a person who—
- in New Zealand carries on a business in a partnership that is not a limited partnership:
- is a general partner of a limited partnership that carries on a business in New Zealand ignoring section HG 2 (Partnerships are transparent).
If the person carries on the business with an absentee or, as a general partner, is responsible for the management of a limited partnership in which a limited partner is an absentee, the person is treated as the agent of the relevant absentee in relation to the absentee’s partnership share of the partnership’s income under section HG 2.
Notes
- Section HD 20B: inserted, on , by section 18(1) of the Taxation (Limited Partnerships) Act 2008 (2008 No 2).
- Section HD 20B(1) heading: inserted (with effect on 1 April 2008), on (applying for the 2008–09 and later income years), by section 140(1) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63).
- Section HD 20B(2) heading: inserted (with effect on 1 April 2008), on (applying for the 2008–09 and later income years), by section 140(1) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63).