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Our essential course provides an excellent foundation in tax theory and rules governing partnerships, as well as practical guidance on tax compliance requirements.
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.
Additional options and pricing may be available. See pricing and registration for more details.
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
• 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
Member Development and Support
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