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Structuring Partnerships

Published on 24 Jul 2007 | Took place at Education Development Centre, Hindmarsh , SA

Partnerships have a varied treatment under the tax system, sometimes treated as separate entities and sometimes not. The features of any partnership are determined by the agreement between the partners thus resulting in a very flexible business vehicle, particularly as the tax system largely taxes partnerships 'as it finds them'.

The presentation is designed to reflect on the interaction with the tax system of some of the particular features of partnerships.

Individual sessions

Structuring partnerships

Author(s):  Christopher KNOTT

Partnerships have a varied treatment under the tax system, sometimes treated as separate entities and sometimes not. The features of any partnership are determined by the agreement between the partners thus resulting in a very flexible business vehicle, particularly as the tax system largely taxes partnerships 'as it finds them'. This presentation is designed to reflect on the interaction with the tax system of some of the particular features of partnerships. Topics covered include:

  • what is the minimum (if any) profit share that a partner must have?
  • share in partnership losses and profits?
  • what is the tax significance of partnership capital?
  • does a partner have to share in the surplus on winding up?
  • can a non-partner share in profit?
  • variations in profit shares
  • non-fixed profit shares
  • non-fixed shares in surplus
  • restructuring into partnerships.
Materials from this session:

July tax update

Author(s):  Tim CLAYTON This presentation provides an update of tax issues in July 2007.

Materials from this session: