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An individual who was not in a partnership carrying on a business does not need to lodge a partnership tax return where the only income derived jointly (or in common) with another person was:
- rent from a jointly owned investment property
- interest from a jointly held account
- dividends from jointly held shares.
In these instances, each individual shows their share of the income and expenses at the appropriate items on their own individual tax return.
Last modified: 19 Sep 2013QC 35433