Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
This course provides a high-level overview of the taxation of partnerships and the key tax considerations affecting partnership structures and transactions. Participants will examine the calculation of partnership income, transfers of property to a partnership, and the incorporation of a partnership under subsections 85(2) and 85(3). The course also explores the tax implications of partnership wind-ups and reorganizations, including pro rata distributions of partnership property under subsection 98(3), continuation of a partnership as a proprietorship under subsection 98(5), and the availability of the related bump provisions. Additional topics include the calculation of the adjusted cost base of a partnership interest, the taxation of limited partnerships, at-risk rules, limited recourse financing of shelter investments, and key administrative matters. Emphasis is placed on understanding the practical application of these rules and identifying planning opportunities in partnership structures and transactions.
Topics include:
- What is a Partnership?
- Calculation of Partnership Income.
- Transfers to a Partnership.
- Incorporation of a Partnership.
- Pro Rata Distribution of Partnership Property to Partners.
- Continuation of a Partnership as a Proprietorship.
- Availability of the Bump in Subsections 98(3) and 98(5).
- Calculation of Adjusted Cost Base of a Partnership Interest.
- Limited Partnerships.
- At-risk Rules.
- Limited Recourse Financing of Shelter Investments.
- Please note that this course does not review the detailed preparation of a personal tax return.
NOTE: This course description has been revised and reflects updates for 2026. If you have any questions, please contact pdevents@cpaontario.ca.
Key Takeaways
By the end of this course, participants should be able to:
- Analyze the tax implications of partnership formations, reorganizations, and wind-ups, including transfers to partnerships, incorporation under subsections 85(2) and 85(3), and distributions under subsections 98(3) and 98(5).
- Evaluate the calculation and treatment of partnership income and partnership interests, including adjusted cost base calculations, limited partnership rules, at-risk rules, and financing considerations relevant to tax planning and compliance.
Who Will Benefit
- Professionals involved in personal tax who want a structured refresher on planning concepts.
- Practitioners supporting individuals, family trusts, and owner‑managers seeking up‑to‑date, practical guidance.
Prerequisite(s)
- Personal Tax: Compliance and Planning in T1 Preparation or equivalent experience preparing personal returns.
- Recent hands‑on exposure to personal tax planning.
How to Access the Course
This course is delivered as a live webinar. To receive verifiable CPD hours, you must attend the session live. We recommend joining at least 5 minutes before the scheduled start time. For the best interactive experience, please use a computer equipped with a camera and microphone.
A reminder email with the Zoom link and course details will be sent two business days before the session. If you do not receive it, please check your spam or junk folder.
The same information, including any available materials, will also be posted in advance on our Blackboard LMS.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Margaret Riggin, CPA, CA obtained her CA in 1980 and completed the CPA Canada In-Depth Tax program in 1984. She is a sole practitioner providing tax consulting services to small firms and sole practitioners. She has extensive experience with estates and will planning, corporate reorganizations, real estate, acquisitions and divestitures, and corporate and personal tax planning. Margaret has been a frequent instructor and lecturer for CPAO, teaches income tax law at York University, and is an accomplished author on various tax subject matters.