Income Tax - Partnerships (Live Webinar - Multi Segment)
Overview
Participants will examine how partnerships and partners are taxed in Canada, with practical focus on income/loss allocations, adjusted cost base (ACB), property transfers, dissolution, and at-risk limitations. Participants will apply concepts to common planning scenarios and compliance tasks to advise clients who use—or are considering—partnership structures.
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This course has offering(s) that take place over multiple segments:
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Applicable for
- Accountants who prepare partnership returns or advise clients that use partnership structures.
- Practitioners supporting owner-managed businesses transitioning between corporate, joint-venture, and partnership arrangements.
Learning Objectives
- Describe core tax concepts and rules applicable to partnerships (e.g., section 96, fiscal periods, section 103).
- Analyze the computation and tracking of a partner’s ACB, including additions, reductions, and negative ACB traps.
- Identify planning opportunities and common pitfalls for forming, operating, transferring property to, and dissolving partnerships.
- Explain the at-risk rules for limited partners and their effect on losses and ACB.
Content
- Creating legally effective partnerships; partnership vs. joint venture considerations.
- Tax treatment of partnership income and losses; allocations; specified partnership income; anti-avoidance (e.g., s.103).
- ACB mechanics for partnership interests; common traps and compliance points.
- Limited partnerships, LLPs, and the at-risk rules (loss limitations, negative ACB gains).
- Property transfers to partnerships (e.g., s.97(1)/(2)); superficial/suspended loss interactions; documentation touchpoints.
- Dissolutions and reorganizations (e.g., ss.98(3), 98(5), 98(6)), including incorporation paths and bump considerations.
- GST considerations unique to partnerships and differences from joint ventures.
Course Dates & Registration
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Jennifer Reid, CPA, CGA, TEP is a Partner in People Advisory Services Tax at EY in Calgary. Jennifer specializes in assisting private clients with international tax and estate planning issues such as immigration and emigration, dual citizenship considerations, foreign inheritance and foreign investment and asset ownership. Jennifer also assists in designing meaningful executive compensation plans where cross border considerations are front of mind. Jennifer has practiced tax services in Calgary for over 16 years, with a focus on private companies and their owners, as well as trusts and estates. She has experience assisting clients in planning their estate, including considerations such as insurance, trust and probate planning, cross-border planning as well as in transitioning businesses to the next generation or new owners in a tax-efficient manner. Jennifer’s previous experience in Big Four and boutique tax groups, as well as unique experience gained in leading a wealth planning group at a financial institution, allows her to take a holistic approach to tax planning for entrepreneurial and high net worth clients.Improving Your Virtual Learning Experience
Live webinars have varying levels of expected interaction, with some requiring microphone and camera capabilities to support a proper learning experience – please email pdreg@bccpa.ca if you have concerns.
In general, we encourage participants to have their cameras turned on to enhance their virtual learning experience. This practice promotes a stronger connection with the instructor and fellow participants, and fosters improved communication and collaboration.
Live Webinar FAQs can be found here.
Registration terms and conditions, including the cancellation policy can be found here. If you require further assistance, please contact the PD Department.
- 7
- CPD Hours
- 0
- Ethics Hours
- 0
- AML Hours
- 10
- Credits
Starting April 1, 2026, a 2.1% fee will be applied to all credit card transactions. Learn more about this fee and how it relates to PD registrations.
Income Tax - Partnerships (Live Webinar - Multi Segment)
- 7
- CPD Hours
- 0
- Ethics Hours
- 0
- AML Hours
- 10
- Credits
Overview
Participants will examine how partnerships and partners are taxed in Canada, with practical focus on income/loss allocations, adjusted cost base (ACB), property transfers, dissolution, and at-risk limitations. Participants will apply concepts to common planning scenarios and compliance tasks to advise clients who use—or are considering—partnership structures.
|
This course has offering(s) that take place over multiple segments:
|
Applicable for
- Accountants who prepare partnership returns or advise clients that use partnership structures.
- Practitioners supporting owner-managed businesses transitioning between corporate, joint-venture, and partnership arrangements.
Learning Objectives
- Describe core tax concepts and rules applicable to partnerships (e.g., section 96, fiscal periods, section 103).
- Analyze the computation and tracking of a partner’s ACB, including additions, reductions, and negative ACB traps.
- Identify planning opportunities and common pitfalls for forming, operating, transferring property to, and dissolving partnerships.
- Explain the at-risk rules for limited partners and their effect on losses and ACB.
Content
- Creating legally effective partnerships; partnership vs. joint venture considerations.
- Tax treatment of partnership income and losses; allocations; specified partnership income; anti-avoidance (e.g., s.103).
- ACB mechanics for partnership interests; common traps and compliance points.
- Limited partnerships, LLPs, and the at-risk rules (loss limitations, negative ACB gains).
- Property transfers to partnerships (e.g., s.97(1)/(2)); superficial/suspended loss interactions; documentation touchpoints.
- Dissolutions and reorganizations (e.g., ss.98(3), 98(5), 98(6)), including incorporation paths and bump considerations.
- GST considerations unique to partnerships and differences from joint ventures.
Course Dates & Registration
Jennifer Reid, CPA, CGA, TEP is a Partner in People Advisory Services Tax at EY in Calgary. Jennifer specializes in assisting private clients with international tax and estate planning issues such as immigration and emigration, dual citizenship considerations, foreign inheritance and foreign investment and asset ownership. Jennifer also assists in designing meaningful executive compensation plans where cross border considerations are front of mind. Jennifer has practiced tax services in Calgary for over 16 years, with a focus on private companies and their owners, as well as trusts and estates. She has experience assisting clients in planning their estate, including considerations such as insurance, trust and probate planning, cross-border planning as well as in transitioning businesses to the next generation or new owners in a tax-efficient manner. Jennifer’s previous experience in Big Four and boutique tax groups, as well as unique experience gained in leading a wealth planning group at a financial institution, allows her to take a holistic approach to tax planning for entrepreneurial and high net worth clients.Improving Your Virtual Learning Experience
Live webinars have varying levels of expected interaction, with some requiring microphone and camera capabilities to support a proper learning experience – please email pdreg@bccpa.ca if you have concerns.
In general, we encourage participants to have their cameras turned on to enhance their virtual learning experience. This practice promotes a stronger connection with the instructor and fellow participants, and fosters improved communication and collaboration.
Live Webinar FAQs can be found here.
Registration terms and conditions, including the cancellation policy can be found here. If you require further assistance, please contact the PD Department.
Starting April 1, 2026, a 2.1% fee will be applied to all credit card transactions. Learn more about this fee and how it relates to PD registrations.