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- “past relevant deductions”, in relation to a limited partner of a limited partnership in any year of assessment, means the aggregate of any relevant deductions allowed to the partner less any amount deemed under subsection (4) to be income chargeable with tax in any year of assessment before that year of assessment;
- “precedent partner” has the same meaning as in section 71;
- “relevant deductions”, in relation to a limited partner of a limited partnership, means—
- (a) any deduction allowed to the limited partner under section 35(2) of any allowance arising from any trade, business or profession carried on by him in the limited partnership;
- (b) any deduction allowed to the limited partner under section 37(3)(a) of any loss incurred in any trade, business, profession or vocation carried on by him in the limited partnership that is made against his statutory income from any other source;
- (c) any transferred deduction transferred by the partner; or
- (d) any carry-back deduction allowed to or transferred by the partner, as the case may be;
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