Part 16

Income Tax Acts definitions etc
Chapter 1

Definitions

Meaning of “property investment LLP”
1004
1
In the Income Tax Acts “property investment LLP” means a limited liability partnership—
a
whose business consists wholly or mainly in the making of investments in land, and
b
the principal part of whose income is derived from investments in land.
2
Whether a limited liability partnership is a property investment LLP is determined for each period of account of the partnership.