Embark on a comprehensive exploration of creating legally effective partnerships and navigating their tax intricacies with "Strategic Partnership Planning." This course provides a deep dive into critical topics, including the calculation of Adjusted Cost Base (ACB) of partnership interests, property transfers, partnership dissolution, the impact of At-risk rules on income, losses, and ACB, and the role of Goods and Services Tax (GST) in partnerships. Participants will gain practical insights and strategies to establish sound partnerships, manage tax treatment of income and losses, and ensure compliance with legal and regulatory requirements.
Key Topics discussed:
• Creating Legally Effective Partnerships
• Calculation of ACB of Partnership Interests
• Transferring Property to Partnerships
• Dissolving Partnerships
• At-risk Rules and Impact on Income, Losses, and ACB
• GST Considerations in Partnerships