Partnerships (Tax)

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October 24, 2021 at 9:50 pm #639020
Saedeo
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In a past paper question, they deducted the salary of the partners before splitting the income in the PSR but we just allocated it in the examples done in the lectures. Any reason for this difference?
October 27, 2021 at 5:34 pm #639258
Tax Tutor
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If there are either salaries or interest on capital involved in the question then these allocations are always made BEFORE any balance is then split in the PSR
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