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Partnership salaries and TR 2005/7

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journal contribution
posted on 13.09.2016, 03:14 by Ian Tregoing
This article critically examines Taxation Ruling TR 2005/7 concerning the income tax treatment of partners' salaries. An earlier ruling Income Tax Ruling IT 2218 is also considered as background to the current ruling, together with the relevant legislation and case law. TR 2005/7 is found to be without foundation in the law, being contrary to the scheme of the legislation and to case law. As a result, it is recommended that the ruling be withdrawn.

8(2): 351-370