Limited Partnerships Bill reported back

The Commerce Committee has reported to Parliament on the Limited Partnerships Bill, introduced in August. The bill introduces new regulatory rules for limited partnerships and new tax rules for limited partnerships, and updates the tax rules on general partnerships. The committee has recommended a number of small technical changes to the proposed tax provisions to make it easier to comply with the rules. For more information see the bill as reported back and the tax policy officials' report to the select committee on submissions on Parts 5 and 6 of the bill.