Partnership Distribution Timing Trap: Toronto Tax Lawyer Guide - Tax
Legal Forms for Canadian Businesses -Partnership Distribution Timing Trap The Canadian legal environment provides businesses with a number of different choices for legal forms to structure themselves, most prominently corporations, sole proprietorships, partnerships and limited partnerships. These forms have different legal and tax aspects associated with them. Partnerships are a useful business form with significant tax advantages, but also some unexpected traps for unwary taxpayers. This article briefly summarizes the tax aspects of partnerships in the Canadian legal landscape and describes...