Archive | Ontario Limited Partnerships

Unlocking Tax Efficiency: Understanding Taxation in Ontario Limited Partnerships

Taxation is a pivotal aspect of any business structure, and when it comes to Ontario Limited Partnerships (LPs), it’s no different. One of the standout features of LPs in Canada is their tax efficiency. These partnerships are designed to be pass-through entities for tax purposes, creating a streamlined and often advantageous tax environment for partners. In this […]

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Navigating Limited Liability Protection in Ontario Limited Partnerships (LPs)

When embarking on a business venture in Ontario, one crucial consideration is the level of liability protection offered by your chosen business structure. In the case of Limited Partnerships (LPs), Ontario offers a unique framework that distinguishes between two types of partners: limited partners and general partners. Understanding the nuances of limited liability protection within […]

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Formation of Ontario Limited Partnerships (LPs): A Step-by-Step Guide

If you’re considering establishing a business in Ontario and exploring the benefits of a Limited Partnership (LP) structure, you’re on the right track. LPs in Ontario offer a unique blend of flexibility and protection, making them an attractive choice for entrepreneurs. In this article, we’ll take you through the crucial steps of forming an LP […]

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Ontario LP Registration For Non-Residents

Ontario Limited Partnerships is a simple form of business registration in Canada, which creates a Canadian company and does not generate filing and tax obligations in Canada for partners, who are not residents of Canada. An Ontario Limited Partnership is formed through filing Declaration – Form 3 declaration of Ontario Limited Partnership with the Ontario […]

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Residency Requirements of Ontario Limited Partnerships

An Ontario Limited partnership consists of two or more legal entities pooling their resources to operate a shared business. The “legal entities” that form the partnership may be individuals, corporations, trusts or partnerships. The resources each partner contributes to the new business partnership don’t have to be in the form of money. A partner’s contribution […]

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6 Essential Facts on Ontario Limited Partnerships

An Ontario Limited Partnership is formed through filing Declaration – Form 3 declaration of Ontario Limited Partnership with the Ontario Ministry of Government and Consumer Services and, the following is an outline of the information to be disclosed: Name and address of the LP; Name and address of General Partner and General Partner’s signature; Statement […]

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Tax Treatment of Ontario Limited Partnerships

Ontario Limited Partnerships are considered a disregarded or ‘flow-through’ entity for Canadian tax purposes meaning that all profits/losses pass directly through and are attributed to the partners directly. Where the Limited Partnership is engaged in a trade or business outside of Canada, and the partners are non-Canadian residents, at the LP level, there will be […]

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