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Ask Deborah Awyzio Your Own Question
Deborah Awyzio
Deborah Awyzio, Solicitor
Category: Australia Law
Satisfied Customers: 863
Experience:  Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience
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When a company purchases a partnership - what is the best

Customer Question

When a company purchases a partnership - what is the best way to structure everything?We still want them to operate separately eg Company 1 trade as Company 1 and Partnership trades as Parternship 1.Do we just file tax separately? Do we need to redistribute income from the partnership to Company every year as the outlay purchase came from the Company?
Submitted: 2 months ago.
Category: Australia Law
Expert:  Leon replied 2 months ago.

Hi, I am Leon, a NSW Solicitor. I will be assisting you with your question. If you choose a telephone call, you will be charged an additional fee.

Expert:  Leon replied 2 months ago.

Good Morning

The company would not purchase the partnership but the business from the partnership.

The company if it is the sole owner cannot trade as a partnership.

The company will run the business and the shareholders will share in the profits.

For a partnership there has to be 2 owners that means the company and another person or another company.