Partnerships have their own filing obligations and their own complications. We prepare your T5013 partnership information return and the slips each partner needs, so everyone's share is reported correctly.
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4:5 imageMany partnerships must file a T5013 partnership information return and issue slips to the partners, who then report their share on their own returns. The rules about which partnerships must file can be confusing, and errors flow through to every partner. We handle the return and the slips accurately, so the whole partnership stays compliant.
Preparation and filing of the T5013 information return.
SlipsT5013 slips so each partner can report their share.
AllocateCorrect allocation of income and losses among partners.
PersonalWe can prepare the partners' personal returns too.
A clear, organized process that keeps your business compliant and on time.
We confirm whether your partnership must file a T5013.
We gather the partnership's financial information.
We allocate income and losses to each partner correctly.
We file the return and issue the partner slips.
Not every partnership must file, but many do — generally larger partnerships or those meeting certain financial thresholds, and those with corporate or partnership partners. We confirm whether yours is required to file.
It's the slip issued to each partner showing their share of the partnership's income, losses, and other amounts, which they use to report on their own tax return.
The filing deadline depends on the partners' makeup — partnerships with only individual partners have a different deadline than those with corporate partners. We track the right date for your partnership.
A partnership itself generally doesn't pay income tax; instead, income and losses are allocated to the partners, who report their share. Getting the allocation right matters for everyone.
Yes. We can handle both the partnership return and the partners' individual returns, so the partnership amounts flow through correctly and consistently.
Serving businesses across Durham Region: Oshawa · Whitby · Ajax · Pickering · Courtice · Bowmanville · Clarington · Newcastle · Port Perry · Uxbridge.
Book a free consultation and we'll review your corporate needs and map out a clear plan.
Book a free consultation