{"id":980,"date":"2013-12-02T16:33:16","date_gmt":"2013-12-02T16:33:16","guid":{"rendered":"https:\/\/thor.ca\/\/blog\/?p=980"},"modified":"2025-02-12T13:31:02","modified_gmt":"2025-02-12T21:31:02","slug":"cra-confirms-its-view-of-a-partnership-interest","status":"publish","type":"post","link":"https:\/\/www.thor.ca\/blog\/2013\/12\/cra-confirms-its-view-of-a-partnership-interest\/","title":{"rendered":"CRA confirms its view of a partnership interest"},"content":{"rendered":"<p>In <a href=\"http:\/\/thor.ca\/blog\/wp-content\/uploads\/2013\/12\/2013-0491571E5.pdf\">2013-0491571E5<\/a>, the CRA confirmed its view that a \u201cpartnership interest\u201d is <em>one<\/em> property notwithstanding that a partner may hold separate \u201cunits\u201d in the partnership.  Accordingly, where a partner sells only some of its units in the partnership during a fiscal year of the partnership, the effect is \u201cthe disposition of part of a property\u201d.  As such, a portion of the total adjusted cost base (ACB) of the one partnership interest must be allocated to the part sold, being the portion \u201cthat can reasonably be regarded as attributable to that part\u201d (under s. 43).  This likewise reduces the continuing ACB of the one partnership interest at that time (under s. 53(2)(d)).  Finally, because the partnership interest is one property, 100% of any income allocated to the partner at the end of the partnership\u2019s fiscal year increases the ACB of the (one) partnership interest immediately after the end of the fiscal year (under s. 53(1)(e)(i)).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In <a href=\"http:\/\/thor.ca\/blog\/wp-content\/uploads\/2013\/12\/2013-0491571E5.pdf\">2013-0491571E5<\/a>, the CRA confirmed its view that a \u201cpartnership interest\u201d is <em>one<\/em> property notwithstanding that a partner may hold separate \u201cunits\u201d in the partnership.  Accordingly, where a partner sells only some of its units in the partnership during&hellip;<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[52],"tags":[],"class_list":["post-980","post","type-post","status-publish","format-standard","hentry","category-tax-blog-general"],"_links":{"self":[{"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/posts\/980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/comments?post=980"}],"version-history":[{"count":1,"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/posts\/980\/revisions"}],"predecessor-version":[{"id":2737,"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/posts\/980\/revisions\/2737"}],"wp:attachment":[{"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/media?parent=980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/categories?post=980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/tags?post=980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}