FAQ Blog Calculators Students Logbook Contact
Do your Tax with TaxTim and WIN R10,000  More info   T&C's apply


Partnership

What is the definition of Partnership?

A partnership is an association between 2 - 20 people who are contractually bound to one another in order to operate a joint, profit-making business together. Each member of the partnership contributes their money, goods or services to a shared fund, agreeing that any profits made will be shared between the partners as per a contract between them. A partnership does not have to be registered with the companies registrar CIPC. Partners in a partnership are taxed on their percentage of the taxable income of the partnership. This income needs to be disclosed to SARS.

Back


Submit your tax return right here!
Get started

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund
Answer simple questions about your incomes and expenses. TaxTim does the rest. Just click click, submit.

Make tax easy