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.
Schedule
- August 12, 2025, 8:30 a.m. - 12:30 p.m.
- August 13, 2025, 8:30 a.m. - 12:30 p.m.
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
This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time. To get the full experience of this interactive course, use a computer that has video and microphone capabilities.
Electronic material can be accessed one week prior to the course and should be downloaded in advance.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Karen Wilkinson, FCPA, FCA is President of Karen Wilkinson Professional Corporation. She was previously a Tax Partner with Deloitte LLP with over 25 years of tax experience. Karen's practice is focused on assisting private companies and their owners in maximizing wealth and transitioning the business to the next generation. While at Deloitte LLP, Karen was the Chief Learning Officer for the Canadian tax practice for 9 years. She has been involved in the delivery of all aspects of the CPA Canada In-depth tax program and is a former lecturer for the CPA Canada Income Tax for the General Practitioner course. Karen graduated from the University of Waterloo with a Master of Accounting degree. Karen has been very involved in the community over the years currently serving as a member of the Board of the Kitchener Waterloo Symphony Association and the Treasurer at Orchestras Canada. Prior community involvement has included the Board of Governors at the University of Waterloo and United Way of Cambridge and North Dumfries.