The Issues Log

Issue: EH 3

Submission Number	002
Section / Provision Income Tax Act 2004	EH 3
Date Received	26/11/2004
Description of issue	Under the 1994 Act a partnership cannot make a deposit to the income equalisation scheme. My interpretation of the wording in the 2004 Act will allow a partnership to make a deposit to the scheme.
Section / Provision Income Tax Act 1994	EH 3
Status	Finalised
Outcome	The panel agreed that the rewritten provision clarified the matter and that it is now clear that a partnership can make a deposit to the IES as a partnership.