Partnership Distributions Face New GST/HST Rules | KPMG | CA
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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.


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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.

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