The information includes:
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front-cover details for the partnership
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interposed entity election status
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interposed entity revocation
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family trust distribution tax (FDT)
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TFN of former partnership
Keep the following records for the partnership:
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A copy of the partnership agreement; if none exists, a copy of the partnership's certificate of registration; if none exists, documentary evidence that partners were carrying on their activities as a partnership.
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Commencement date of the partnership or the date of reconstitution.
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Detailed statement of assets and liabilities.
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Details of each partner's capital accounts and sources of capital contributed.
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Details of each partnership bank account including:
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the name and number of the account
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the bank and branch at which it is kept
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the date the account was opened
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the names of the people authorised to operate the account and the date of such authorisation.
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The family relationship of the partners and, if the partners are husband and wife, details of the nature and extent of the services rendered by each to the partnership.
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Whether the partners own jointly or in common, any property from which they get interest, dividends, rents or royalties.
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The name in which business contracts are made.
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Details of any services rendered in the production of assessable income by a partner under 18 years old, or by a beneficiary under 18 years of age in a trust where the trustee is a partner - details must include the nature, extent and value of the services rendered.
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Whether the partnership is constituted or conducted such that any partners cannot, of their own will, deal with any part of their share of the partnership income.
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Whether any partners are required to use any part of their share of the profits to meet any debt to another person.
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Records that show the partners have met the choice of superannuation fund employer obligations.