Income Tax - Partnerships (On-Demand - CPA PRO)
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.
Access expires 180 days from purchase date |
Course Description
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
By the end of this course, participants should be able to:
- 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
Topics include:
- 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 Content Created: October 2024
The information is current as of the creation or last updated date. While we strive to keep our inventory updated and periodically remove outdated titles, changes in accounting, tax, legislation and technology may occur. Purchasers should note the date and verify for themselves if the course is still relevant to their needs.Presenters
Will House, JDSamuel Lau, CPA
Jasvin Singh Sethi, CPA
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. Where available, accompanying materials such as handouts or course notes are included.On-demand courses are eligible for verifiable CPD hours upon successful completion, and a certificate will be made available for download for your records.
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.
Course Dates & Registration
- 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 (On-Demand - CPA PRO)
- 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.
Access expires 180 days from purchase date |
Course Description
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
By the end of this course, participants should be able to:
- 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
Topics include:
- 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 Content Created: October 2024
The information is current as of the creation or last updated date. While we strive to keep our inventory updated and periodically remove outdated titles, changes in accounting, tax, legislation and technology may occur. Purchasers should note the date and verify for themselves if the course is still relevant to their needs.Presenters
Will House, JDSamuel Lau, CPA
Jasvin Singh Sethi, CPA
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. Where available, accompanying materials such as handouts or course notes are included.On-demand courses are eligible for verifiable CPD hours upon successful completion, and a certificate will be made available for download for your records.
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.
Course Dates & Registration
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.