RG
Blogger
Share this content
0
1
356

New mixed partnership after 5/12/13

New mixed partnership after 5/12/13

Would an OMB corporate member end up paying tax as employee?
I have a client wanting to use this vehicle, where two existing companies would come together in partnership, to be joined at a later date by one more. I cannot find chapter and verse, but from what I have read and heard, it seems to me that the individuals would be taxed as individuals? Is this correct, and how would this work? I've read "Partnerships: A review of two aspects of the tax rules" guidance, but it is not clear to me

Replies

Please login or register to join the discussion.

avatar
By BananaMan
09th Jun 2014 14:16

Is there any reason that they can't (or won't) set up a third company owned equally by the 2 existing companies?

Thanks (0)