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Partnership tips and traps
Published on 01 Feb 23 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
As the introduction suggests, most will have encountered partnerships in their professional life. For many though, that encounter is often limited to advising on a discrete issue and often only for the benefit of a partner as opposed to the partnership. These discrete issues are often identified and dealt with in contexts that are relevant for that issue only. This article attempts to identify a framework that advisers can use to better contextualise issues and appreciate how they can impact other aspects of the partnership and the partners. This is important as there is a lack of harmony in respect of partnerships, partnership interests, and how they are dealt with from a tax, duty and commercial perspective. This can be exacerbated by the fact that each state and territory has its own treatment of partnerships from a duty and commercial perspective. In that regard, this article only focuses on Queensland.
Author profile
John Ioannou CTA
John Ioannou, CTA was admitted as a Solicitor in 2002, is a Principal Lawyer at Macpherson Kelley and leads the national tax practice. He has experience in the areas of tax structuring, tax disputes and commercial transactions. John has a Bachelor of Arts, Bachelor of Laws and a Masters of Law. John is currently serving as the QLD representative on the Tax Institute's National Council. - Current at 15 December 2025
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