Doing business in partnership: Tax consequences of the death of a partner
The taxation of partnership rules can seem straight forward on the surface, but they can be complicated to apply, particularly when a partner dies, or the partnership is a husband and wife and they separate. In the current environment it may be prudent to revisit whether a partnership that gives rise to joint and several liability is the best vehicle for a business. With the impact of COVID the reality is that businesses are failing. Planning for the cessation of a partnership is as important as planning its inception, if not more so. Will there be a dissolution or a disposal? Will there be relief?
This webinar will provide a refresher on the tax rules applying on the death of an individual and will look at the following topics:
This webinar will be a mix of the technical rules that apply and the use of practical examples to highlight the interplay of some of the relevant tax rules that need to be worked through to assess the tax outcomes for all concerned.
12 May 2022
Accountants and lawyers who act for partners or partnerships and advise on partnership issues and agreements.
Accountants, advisors and lawyers who advise on Wills and who manage or administer estates.
Nola Crafar, Senior Manager – Tax Advisory, Findex (presenting on behalf of TEO).
1.25 CPD Hours