This course provides a high-level overview of the taxation of partnerships and the key tax considerations affecting partnership structures and transactions. Participants will examine the calculation of partnership income, transfers of property to a partnership, and the incorporation of a partnership under subsections 85(2) and 85(3). The course also explores the tax implications of partnership wind-ups and reorganizations, including pro rata distributions of partnership property under subsection 98(3), continuation of a partnership as a proprietorship under subsection 98(5), and the availability of the related bump provisions. Additional topics include the calculation of the adjusted cost base of a partnership interest, the taxation of limited partnerships, at-risk rules, limited recourse financing of shelter investments, and key administrative matters. Emphasis is placed on understanding the practical application of these rules and identifying planning opportunities in partnership structures and transactions.

ADVISORY

This course was previously part of Personal Tax – Review of Tax Planning, which has since been divided into standalone courses. This modularization approach allows members to choose only the content most relevant to their needs. Here are all the courses that were split from Personal Tax - Review of Tax Planning. Please note that availability of offerings may vary throughout the year, and some courses are available only in On-Demand format. 

For members who require the complete curriculum, the full Personal Tax – Review of Tax Planning course remains available in On-Demand format. 

• Professionals involved in personal tax who want a structured refresher on planning concepts. 
• Practitioners supporting individuals, family trusts, and owner-managers seeking up-to-date, practical guidance. 

• By the end of this course, participants should be able to: 
• Analyze the tax implications of partnership formations, reorganizations, and wind-ups, including transfers to partnerships, incorporation under subsections 85(2) and 85(3), and distributions under subsections 98(3) and 98(5).  
• Evaluate the calculation and treatment of partnership income and partnership interests, including adjusted cost base calculations, limited partnership rules, at-risk rules, and financing considerations relevant to tax planning and compliance.

Topics include: 

• What is a Partnership? 
• Calculation of Partnership Income 
• Transfers to a Partnership 
• Incorporation of a Partnership 
• Pro Rata Distribution of Partnership Property to Partners 
• Continuation of a Partnership as a Proprietorship 
• Availability of the Bump in Subsections 98(3) and 98(5) 
• Calculation of Adjusted Cost Base of a Partnership Interest 
• Limited Partnerships 
• At-risk Rules 
• Limited Recourse Financing of Shelter Investments 
• Note: this course does not review the detailed preparation of a personal tax return.
  
  

Course Content Created: August 2026

Presenter

About This Product

On-Demand Courses by CPA PRO are either video recordings from live seminars, or video recordings produced specifically for the on-demand audience. Slides and any corresponding handout materials are included where available.These titles are eligible for Verifiable CPD Hours – in order to claim these hours as verifiable, you will be required to successfully complete a short quiz. You will be able to print or save your electronic certificate of completion.

Note that some courses comprise both formal instruction and self-directed exercises. In such cases, participants must complete both components to claim full CPD hours, or must reduce their reported CPD hours accordingly.

Please note that not all on-demand courses include downloadable materials such as course notes or slides.

How to get started

After completing your purchase, go to mylms.bccpa.ca. Log in using your CPABC Online Services credentials. Click Go to Your Courses and Materials to access your Learning Center. Select your course title to begin.