- Description
-
This provides information on partnerships, as reported on their partnership tax returns. A partnership is a relationship between separate persons carrying on a business with a view to profit. Each partner contributes towards the partnership and shares in the profits or losses and responsibilities.
A partnership does not pay tax in its own right. Instead each partner pays tax on their share of the net partnership income at their individual tax rate. All shares of capital gains or losses relating to capital gains tax events for partnership assets must be disclosed on the partners’ tax returns.
A partnership requires a tax file number and must lodge a tax return at the end of the income year. All income earned and deductions claimed for expenses incurred in earning income for the partnership must be shown on the tax return. Although this return is simply an information return, it provides the basis for determining each partner’s respective share of the net partnership income or loss.
- Download
-
- 00268761.htm&page=11&H11 (Other) 0.00KB - 320 hits
- Date Published
- 7 April 2011
- Date Updated
- Not specified
- Update Frequency
- Not specified
Dataset Information
- data.gov.au Category
- Business, Community, Finance, Government, Industry
- Keywords / Tags
- 1001, BAS, benchmarks, business, capital, CGT, codes, company, compliance, cost, data, debts, excise, FBT, file, Fuel, fund, gains, GST, GST (Goods and services tax), HELP, Individual, Individuals, Net tax, partnerships, PAYGI, PAYGW, post, postcodes, prescribed private funds, ratio, ratios, sample, schemes, statistics, Stats, Superannuation, Taxation, Taxation statistics, taxstats, trust
- Licence
- Creative Commons - Attribution 3.0 Australia (CC BY 3.0)
- Permalink
- http://data.gov.au/2703
Contributing Agency Information
- Agency
- Australian Taxation Office (View all datasets from Australian Taxation Office)
- Jurisdiction
- Commonwealth of Australia
- Agency Program
- Taxation Statistic 2008-09
Dataset Coverage
- Temporal Coverage
- 2008-09 Financial Year
- Geospatial Coverage
- Australia
- Granularity
- Not specified
