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Partnership CGT Losses

bg01 · 2021-03-29 23:28:05

Can a partnership CGT losses be offset on the partners personal gains?

29-03-2021 11:28pm

#1

bg01

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Can a partnership CGT losses be offset on the partners personal gains?

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#2 30-03-2021 9:23pm

Marcusm

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Dealings in chargeable assets by a partnership are treated as dealings by the partners themselves. The gain/loss may be computed at the partnership level and then apportioned to the partners to be assessed or relieved personally. That means you can use losses against other gains provided there is no other pertinent restriction (eg losses on sales to connected persons).

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#3 01-04-2021 11:00pm

bg01

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Thanks Marcusm was thinking thats what section 30 was saying just kinda needed to hear someone else interpretation of it matching my own

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