Navigating Effective Partnerships: From Legal Foundations to Tax Implications.
Embark on a comprehensive exploration of creating legally effective partnerships and navigating their tax intricacies with "Strategic Partnership Planning." This course provides a deep dive into critical topics, including the calculation of Adjusted Cost Base (ACB) of partnership interests, property transfers, partnership dissolution, the impact of At-risk rules on income, losses, and ACB, and the role of Goods and Services Tax (GST) in partnerships. Participants will gain practical insights and strategies to establish sound partnerships, manage tax treatment of income and losses, and ensure compliance with legal and regulatory requirements.
Key Topics discussed:
• Creating Legally Effective Partnerships
• Calculation of ACB of Partnership Interests
• Transferring Property to Partnerships
• Dissolving Partnerships
• At-risk Rules and Impact on Income, Losses, and ACB
• GST Considerations in Partnerships
Chartered Professional Accountant
Brian Anderson, CPA, has more than 15 years of experience in accounting, taxation, and business advisory services, with particular expertise in partnership structures and professional service firms. Since obtaining his CPA designation, he has developed extensive practical knowledge across a broad range of accounting matters, including partnership taxation, adjusted cost base (ACB) calculations, GST/HST compliance, financial reporting, and business structuring. Brian has advised on all stages of the partnership lifecycle, from initial formation and ownership structuring through partner admissions and withdrawals, to partnership dissolutions and reorganizations. His experience includes helping businesses evaluate the use of corporations, holding companies, management corporations, and other related entities within partnership arrangements to achieve commercial and tax objectives. He holds a degree in Accounting with a minor in Law from Toronto Metropolitan University (formerly Ryerson University). In addition to his professional expertise, Brian has developed a global perspective through his exposure to international business practices, including time spent in Japan studying different approaches to business operations and governance.
Author, Speaker, and Composer
Darryl Johnson II is a creative thinker based in sunny Southern California. A prolific content creator, he has published several dozen works for wind band, jazz band, and orchestra and is the author of dozens more print and multimedia publications in both the fiction and non-fiction categories. Along the way, he has delivered academic presentations to hundreds of schools in over 40 states and 3 countries and has received regular laudits for a supportive and relatable approach to education. A composer of music and a composer of words, Darryl Johnson II has developed an insatiable interest in a broad range of concepts and ideas that have been refined by fires of art and strategy and he is passionate about inviting others on new and interesting journeys of thought, experience, and design.
Provincial regulators of CPAs in Canada do not require that independent providers of CPD be approved to offer courses. Instead, individual CPAs are responsible for assessing whether a CPD activity meets their requirements, and may take activities from any source provided those requirements are met.
Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.
