Get your Tax Return DONE in 20 minutes or less with TaxTim!
What is the definition of Partnership?
A partnership is an association between 2 - 20 people who are contractually bound to one another in order to operate a joint, profit-making business together. Each member of the partnership contributes their money, goods or services to a shared fund, agreeing that any profits made will be shared between the partners as per a contract between them. A partnership does not have to be registered with the companies registrar CIPC. Partners in a partnership are taxed on their percentage of the taxable income of the partnership. This income needs to be disclosed to SARS.
you file your
TaxTim will help you:
Do Your Tax Return Easily
Maximise your refund
Tim uses your answers to complete your income
tax return instantly and professionally, with
everything filled in in the right place.
Let Tim submit your tax return direct to SARS in just a few clicks!