PUB00290: Income tax and goods and services tax - treatment of bloodstock breeding partnership
This item clarifies the Commissioner’s view on certain aspects of the income tax and GST treatment for a partnership formed for the purposes of carrying on a bloodstock breeding business. The particular situation covered is where a new partnership is purchasing its first horse with a plan to race the horse for a number of years before using the horse for breeding.
Comment deadline: 23 December 2016
PUB00290 - PDF format (195kb | 10 pages)