Organizations & Sectors — Section 02

Accounting & Taxation
for Partnerships

General partnerships, limited partnerships, joint ventures, or professional partnerships — ESSORS has deep expertise in the taxation of flow-through entities and the allocation of income among partners.

Partnership Types

Your structure, our expertise

General Partnerships

A structure in which partners share profits, losses, and unlimited liability. Common in regulated professions (law, medicine, engineering) and small businesses.

Limited Partnerships

A combination of at least one general partner with unlimited liability and limited partners whose liability is restricted to their capital contribution. Used for real estate and investment projects.

Joint Ventures & Consortia

Temporary or permanent partnerships between separate entities to carry out a common project. Proportional accounting, cost sharing, and reporting to co-venturers.

Condominium Syndicates

Entities without legal personality that administer the common areas of a building. Projected budget, contingency fund, and annual financial statements submitted to co-owners.

Specialized Services

What we do for you

  1. T5013 Return — Partnership Information Return

    Preparation and filing of the annual T5013 and TP-600 (Revenu Québec) returns. Allocation of income, losses, credits, and other items to each partner in accordance with the partnership agreement.

  2. Annual Financial Statements

    Compilation and review engagements compliant with Canadian standards. Clear financial statements for partners, creditors, and business associates.

  3. Partner Taxation

    Tax planning for allocated income for each partner: remuneration, interest on advances, personal income tax, and integration into their overall tax situation.

  4. Bookkeeping and Accounting

    Transaction entry, bank reconciliation, tracking by partner or by project, and periodic reporting to partners. Full or partial service available.

  5. GST/QST

    Partnership registration, tax return filing, recovery of input tax credits (ITCs/ITRs), and compliance with Revenu Québec and the CRA.

  6. Partnership Agreement Drafting & Review

    Support during the drafting or revision of financial clauses in the partnership agreement: capital contributions, profit sharing, retirement provisions, and rights of first refusal.

Your partnership deserves tailored support.

Let's discuss your situation and the best way to support you.

Contact Us