Partnership and information return filing requirements

On January 1, 2011, new filing criteria for the Partnership Information Return came into effect. The new filing criteria apply to partnerships (and nominee/agent for partnerships) with fiscal periods ending on or after January 1, 2011.

For partnerships with fiscal periods ending on or before December 31, 2010, the previous criteria still apply.

What's new

Clarifications on the Partnership Information Return (T5013)

Partnerships - Elimination of corporation tax deferral - The deferral of tax by a corporation that has a significant interest in a partnership having a fiscal period different from the corporation's tax year will be eliminated.

Joint ventures - Elimination of fiscal period - For tax years ending after March 22, 2011, participant taxpayers who entered into joint venture arrangements will no longer be eligible to compute income as if the joint venture had a separate fiscal period.

Forms and publications

• Interpretation Bulletin IT-90, What is a Partnership?
• Slip T5013, Statement of Partnership Income
• T5013-INST Statement of partnership income - Instructions for recipient
• Slip T5013A, Statement of Partnership Income for Tax Shelters and Renounced Resource Expenses
• T5013A-INST Statement of partnership income for tax shelters and renounced resource expenses - Instructions for Recipient
• Form T5013SUM, Information Slips Summary
• Other forms and publications related to partnerships

Related Topics

• Change of fiscal year-end