Discover the intricacies of partnership interest changes under the Income Tax Act 2007. Learn how the introduction or exit of partners can impact income tax liabilities and uncover strategies to navigate these complex transactions effectively. Gain valuable insights and stay ahead in your tax planning!
The acquisition or disposal of an interest in partnership or limited partnership is often viewed as a capital transaction like selling a shareholding in a company. However, the tax transparent nature of partnerships and limited partnerships mean an exiting partner may incur an income tax liability. Similarly, the introduction of a new partner can result in a deemed disposal by the existing partners that has income tax consequences for them.
This webinar will consider how the Income Tax Act 2007 deals with the changes in partnership interests that occur when a new partner is admitted to a partnership, an existing partner retires from a partnership, a partner sells some or all of their partnership interest to existing partners or a new partner.
Upon satisfactory completion of this activity, you will be able to:
Accountants and lawyers that have partners in partnerships, partnerships, limited partners, and limited partnerships as clients.
Stephen Richards, Partner - Tax Advisory, Findex NZ on behalf of TEO
Stephen Richards is Partner in the Tax Advisory team at Findex. Findex is one of the largest providers of integrated financial advisory and accounting services to individuals, SMEs, and corporates in Australasia. Stephen has been practicing in tax advisory for over 20 years and is a sought-after speaker on tax topics, including for CCH, CAANZ, and TEO Training courses and lecturing in taxation practice at the University of Otago.
1 CPD Hour
