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  • Partnerships


    Partnership chapter


    Partnership detailed tables


    Taxation statistics - whole document


    This chapter provides information on partnerships, as reported on their partnership tax returns. A partnership is a relationship between separate persons carrying on a business with a view to profit. Each partner contributes towards the partnership and shares in the profits or losses and responsibilities.

    A partnership does not pay tax in its own right. Instead each partner pays tax on their share of the net partnership income at their individual tax rate. All shares of capital gains or losses relating to capital gains tax events for partnership assets must be disclosed on the partners' tax returns.

    A partnership requires a tax file number and must lodge a tax return at the end of the income year. All income earned and deductions claimed for expenses incurred in earning income for the partnership must be shown on the tax return. Although this return is simply an information return, it provides the basis for determining each partner's respective share of the net partnership income or loss.


    For the 2008-09 income year:

    • 393,727 partnerships lodged returns, a decrease of 6.1% from 2007-08
    • the largest proportion of partnerships were in the agriculture, forestry and fishing industry at 26.4%
    • partnerships reported total business income of $149.0 billion, a 6.3% decrease from 2007-08
    • total partnership expenses were $148.3 billion, a 5.3% increase from 2007-08.
      Last modified: 18 Oct 2011QC 23907