Partnership taxation
Developed for the In-Depth Tax Program, this course is for tax practitioners who want an in-depth understanding of the fundamentals of partnership taxation. It highlights key concepts related to Canadian partnerships and their partners.
Are you a practitioner who would like a better understanding of the taxation of Canadian partnerships and their partners? If so, this course is for you.
Key concepts include:
- the purpose and structure of partnerships
- tax implications of transfers to and from partnerships
- partnerships and the small business deduction
- unique rules related to professional partnerships
- partnership compliance requirements
The material in this course reflects legislative changes as of March 22, 2021.
- what a partnership is for tax purposes
- the difference between a general partnership, a limited partnership, and a limited liability partnership for tax purposes
- the unique rules applicable to professional partnerships
- how the small business deduction is allocated to partners engaged in an active business
- a corporate partner’s ability to access the small business deduction
- the tax implications of a partner’s transfer of their partnership interest or assets to and from a partnership
- the tax implications to a partner retiring or withdrawing from a partnership, including when a partner retires mid-year
- professional accountants who require an in-depth understanding of the taxation of Canadian partnerships and their partners
- tax practitioners who require a refresher on the critical issues of the taxation of Canadian partnerships and their partners