One advantage of having a business partner is that you have someone to share the workload. They also bring their own skills and assets in order to achieve joint goals. Partnerships are easy to establish and operate.
PARTNERSHIP TAX RETURN
Why people choose Business Partnerships?
The Tax benefits of forming a Partnership
Business Partnerships do not pay ‘partnership’ income tax. Each partner declares the profits, or losses on their own income tax return. This allows for flexibility in tax manoeuvres, especially for family partners.
How GST and Partnerships work together
Partnerships must be registered for GST if the annual GST turnover is $75,000 or higher. If the business receives a GST refund, the Partners may withdraw on the refund according to their share percentage.
PARTNERSHIP TAX RETURN
$195 ea*- Partnership Tax Return Inclusions:
- Up to 1hr consultation
- Free tax tip
- Extra: depreciation, salary & wages, investment income, etc.
- BOOK AN APPOINTMENT
*More complex circumstances than normal (e.g., motor vehicle deductions, home office expenses, investment income, could result in the price increase). Price will be confirmed at the appointment.