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Income tax and a partnership

Posted 3 October 2016 under Tax Questions



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Tammy says:
30 September 2016 at 16:30

Does a partnership need to register for income tax if they are registered for VAT?

This entry was posted in Tax Questions. Bookmark the permalink.

TaxTimTaxTim says:
30 September 2016 at 17:07

A partnership is not a legal entity for tax purposes, the individual partners pay tax on their share of the partnership profit.


Tammy says:
2 October 2016 at 18:16

So even if the partnership is registered for VAT with SARS they wont need to submit an income tax return?


TaxTimTaxTim says:
3 October 2016 at 6:50

The Partnership itself cannot submit an Income Tax Return, the partners individually will submit a tax return with their share of the profit.


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