Income Tax - Partnerships (VO)

Review the manner in which partnerships and their partners are taxed, with reference to the relevant statutory provisions, case law and CRA administrative positions to better understand the “what” and “why” issues in preparing returns and advise clients with or considering partnership structures.

Watch a qualified CPA instructor teaching the course and access a copy of the same course material that is provided to attendees of an in-person session. 

After registering for a Video on Demand course, CPA Saskatchewan will send you information on how to access the course within 2 business days.

Click HERE for more information on Video-On-Demand courses.
Review the manner in which partnerships and their partners are taxed, with reference to the relevant statutory provisions, case law and CRA administrative positions to better understand the “what” and “why” issues in preparing returns and advise clients with or considering partnership structures. 

OBJECTIVE:
The course reviews 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 will allow participants to better understand “what” and “why” issues in preparing returns and to better advise clients with or considering partnership structures. 

Although perhaps not as common as corporations, partnerships are commonly used business vehicles/structures. 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. 

WHO WILL BENEFIT:
Accountants who prepare partnership returns or who advise clients that use partnerships.

LEARNING OUTCOMES:
By the end of this course, participants will be able to: 

  • explain tax concepts and rules applicable to partnerships,
  • analyze the computation of partnership income and partnership ACB, and
  • identify potential planning opportunities or traps for members of partnerships.

CONTENT:

  •  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 

PREREQUISITES:
Participants should have a working knowledge of the income tax and GST rules applicable to individuals and corporations. 

When
10/6/2021 - 3/25/2022
Where
Video on Demand

Personal Passport Eligibility

Corporate Passport Eligibility

 

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