Partner remuneration inclusion: payments from firm treated as partner income, adjusted for previously disallowed firm deductions. Any interest, salary, bonus, commission or remuneration payable to or received by a partner from the firm is treated as the partner's income; where such ... Summary
Partner remuneration inclusion: payments from firm treated as partner income, adjusted for previously disallowed firm deductions.
Any interest, salary, bonus, commission or remuneration payable to or received by a partner from the firm is treated as the partner's income; where such payments (or parts thereof) were not allowed as deductions under the firm-level deduction disallowance rule, the partner's income is to be adjusted to the extent of the amount not allowed.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.