Partnership tax issues

Our essential course provides an excellent foundation in tax theory and rules governing partnerships, as well as practical guidance on tax compliance requirements.

Event Details

Location and date:
Online On-Demand Event

Partnerships present unique circumstances for tax planning purposes. This course covers the opportunities and challenges you will encounter when applying the tax rules governing partnerships. It also provides essential knowledge on relevant sources for interpretation and compliance requirements.

Learn how to put essential tax-planning strategies to work for your partnership clients, with a focus on at-risk rules that restrict deductions for limited partnerships and tax shelters.

This course is based on the Income Tax Act effective as of April 21, 2016, and incorporates pending legislation announced up to and including that date.

 

View Table of Contents

Additional options and pricing may be available. See pricing and registration for more details.



$295.00

7 CPD hour(s)
Pricing & registration

You will learn about:

  • laws applicable to partnerships and joint venture agreements
  • eliminating entity-level taxation, permitting untaxed flow-through
  • potential for partners to increase the small business deduction
  • tax-deferred reorganizations on advantageous terms
  • selective allocation of income to match changing business circumstances
  • other partnership tax issues

Who should attend?

  • financial planners
  • income tax planners
  • tax consultants

More Details:

Session Descriptions

Law of partnerships
• Introduction
• What is a partnership?
• Partnership and joint-venture agreements
• Unintended partnerships
• Types of partnerships
• Filing requirement
• Topic point summary

Partnership income calculation and allocation
• Introduction
• General rules
• Separate person fiction
• Character of income
• Fiscal period
• Allocation of income
• Other calculation issues
• Topic point summary

Partnership interests
• Introduction
• Adjusted cost base(ACB) of partnership interests
• Negative ACB
• Limited partnership losses
• At-risk amount
• Topic point summary


Transfer of property to and from a partnership
• Introduction
• The basic rules on partner-partnership transfers
• Partnership rollovers
• Rollover under s.97(2) on transfer of property to a partnership
• Rollover under s.98(6) on transfer of partnership property to a new partnership
• Rollover under s.98(5) on transfer of partnership property to a sole proprietorship
• Rollover under s.98(3) on distribution of undivided interest in partnership property upon cessation of the
• Partnership
• Rollovers under s.85(2) and s.85(3) on transfer of partnership property to a corporation
• Dissolution of the partnership
• Topic point summary

Other partnership tax issues
• Introduction
• Retired partners and their partnership interests
• Death of a partner
• Sales taxes on partner-partnership transactions
• Non-Canadian partnerships
• Partnerships that are tax shelter investments
• Planning with management, technical service and professional corporations
• Topic point summary

Speakers/Presenters

Contacts

Please contact:

CPA Canada Professional Learning and Development Customer Service
Tel: 1-888-337-3242
Email: pld@cpacanada.ca