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The Taxpayers' Guide 2013 - 2014, 25th Edition by Taxpayers Australia

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8.000   COMPARISON OF STRUCTURES

Overview of tax issues to consider in choosing or reviewing investment and business structures.

Issue Sole trader Partnership (see 7.000)
Unsecured business debts Personally liable for all debts Personally liable for all partnership debts
Potential for splitting income No, except for payments to associated parties Between partners
Streaming of income N/A No
Offset of entity’s losses against personal income N/A Yes (subject to non-commercial ...

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