ARTICLE · 19 APRIL 2021

Limited Partnership Losses And The At-risk Amount

Rotfleisch & Samulovitch P.C.

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The Canadian legal environment provides businesses with a number of different choices for legal forms to structure themselves, most prominently corporations, sole proprietorships, partnerships and limited partnerships.

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Legal Forms for Canadian Businesses - Limited Partnership Losses and the At-risk Amount

The Canadian legal environment provides businesses with a number of different choices for legal forms to structure themselves, most prominently corporations, sole proprietorships, partnerships and limited partnerships. These forms have different legal and tax aspects associated with them. Limited partnerships are a useful business form with significant tax advantages and liability advantages, but also some unexpected aspects which can trip up unwary taxpayers. This article briefly summarizes the tax aspects of limited partnerships in the Canadian legal landscape and describes limited partnership losses and the at-risk amount can create problems our experienced Toronto tax lawyers help our clients avoid.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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