Partnership Distributions Face New GST/HST Rules | KPMG | GLOBAL
close
Share with your friends

Partnership Distributions Face New GST/HST Rules

Partnership Distributions Face New GST/HST Rules

Certain limited partnership distributions may now be subject to additional GST/HST.

1000

Related content

Finance has proposed new amendments that would subject certain investment limited partnership distributions to GST/HST where they were paid or became payable to general partners as of September 8, 2017. This unexpected tax measure was included in draft tax legislative and regulatory proposals that Finance released on September 8, 2017, along with the changes to expand the selected listed financial institution (SLFI) rules to include investment limited partnerships first announced in the Finance consultation paper released July 22, 2016.

Due to the complexities related to the proposed changes to the taxation of investment limited partnership distributions, all limited partnership arrangements should carefully review their structures to assess the impact of these changes. Finance will accept comments on the draft legislation until October 10, 2017.

Download this edition of the TaxNewsFlash to learn more.

© 2018 KPMG LLP, a Canada limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

Connect with us

 

Request for proposal

 

Submit