Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
This course highlights the manner in which partnerships and their partners are taxed, with reference to the relevant statutory provisions, case law and CRA administrative positions. The course provides participants an overview of the “what” and “why” issues in preparing returns and prepares participants to better advise clients with or considering partnership structures.
Partnerships are commonly used business vehicles/structures; however, the taxation of partnerships and their partners is quite different from that of corporations and their shareholders. Accountants who regularly advise business owners should be aware of how these taxation rules differ from their clients in corporate structures in order to advise clients with or considering partnership structures.
Topics Include:
- Creating legally effective partnerships
- Tax treatment of income and losses
- Calculation of ACB of partnership interests
- Transferring property to partnerships
- Dissolving partnerships
- At-risk rules and their impact on income, losses and ACB
- GST and partnerships
NOTE: This course description has been revised and reflects updates for 2024. If you have any questions, please contact pdevents@cpaontario.ca.
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The CPA Ontario Tax Immersion Program
Key Takeaways
By the end of this course, participants will be able to:
- Describe tax concepts and rules applicable to partnerships.
- Analyze the computation of partnership income and partnership ACB.
- Identify potential planning opportunities or traps for members of partnerships.
Who Will Benefit
Accountants who prepare partnership returns or who advise clients that use partnerships.
Prerequisite(s)
Participants should have a working knowledge of the income tax and GST rules applicable to individuals and corporations.
How to Access the Course
To access your course, visit the CPA Ontario Blackboard site and sign in using the same username and password used for the Registration Portal.
Important: Course access begins on the date of purchase and remains available for the Access Time specified for the course under Dates and Location. Please review the access time before purchasing. Note that it may take up to 15 minutes after registration for the course to appear in Blackboard.
Registration, cancellation, withdrawal, and other CPA Ontario PD policies can be found here.