Partnership Tax Returns
Partnership Tax Returns Done Right
Running a business with a partner brings its own set of responsibilities, and filing a partnership tax
return is one of them. At Tax Save, we specialise in preparing and lodging partnership tax returns in
compliance with all ATO regulations. Whether you and your partner are just starting out or have been
operating for years, our team ensures your partnership return is completed accurately, on time, and with
the right tax planning in place. We help you avoid common mistakes, correctly split income, and ensure
both partners meet their tax obligations.
Understanding Partnership Tax Obligations
Unlike companies, a partnership doesn’t pay income tax as an entity. Instead, the net income or loss is
distributed between partners and declared in their personal tax returns. This makes the preparation of a
partnership return both crucial and sensitive; every figure must be correct to avoid flow-on issues for
both partners. Our experienced tax agents work closely with you to understand how income, expenses,
and profit-sharing are structured. We then ensure your Partnership Tax Return (Form P) is prepared to
the highest standard, with supporting documentation reviewed and verified.
Professional Help with Compliance and Deductions
A partnership return involves several layers of detail, from business expenses to depreciation schedules
and GST adjustments. At Tax Save, we simplify the process by collecting and reviewing all relevant
records, including your financial statements, partnership agreement, and BAS lodgements. We then
identify the correct deductions and ensure they’re applied fairly between partners.
Our team helps you stay ATO-compliant, while also advising you on how to structure expenses for
maximum tax benefit. We don’t just complete your return, we help you understand what’s being lodged
and why it matters.
Face-to-Face or Online, It’s Your Call
Whether you prefer to sit down in person or get things done online, Tax Save offers flexible options to
suit your working style. Our secure online portal makes it easy to upload your financial documents, and
our tax specialists handle the rest. Prefer a face-to-face meeting? You can book an appointment at any
of our offices and speak directly with a registered tax agent. Either way, your partnership tax return is
handled with full attention to accuracy, compliance, and long-term benefits for you and your business
partner.
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Mon - Fri : 9am–5pm
Saturday : By Appointment Only
Sunday : Closed
