Partnerships

A partnership that is carrying on a business must show in a Partnership Tax Return all its income earned and deductions claimed for expenses in the course of carrying on business.

Each partner pays tax on their share of the partnership’s income, and thus must include their individual share of the net partnership profit or loss in their personal tax return.

Partnership and Trust 2006 Tax Return instructions are available at the ATO website.

For further information see the ATO website.

Sole Traders
Partnerships
Companies