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 ...|