Section 961: Non-trading profits and losses
2870.This section extends the Chapter so that it applies to non-trading activities carried on in partnership as it applies to trades. It is based on section 116 of ICTA.
2871.Subsection (1) identifies the non-trading profits to which the Chapter applies. They are the profits from the sources listed in section 1173.
2872.Subsection (3) is a rule for “special leasing” allowances within section 259 or 260 of CAA. The partner company’s share of the allowances is not available against the partner company’s other profits.