Treatment of partner remuneration: payments from a firm to a partner are not treated as salary under section 15. Insertion of Explanation 2 specified that any salary, bonus, commission or remuneration due to, or received by, a partner of a firm from the firm shall ... Summary
Treatment of partner remuneration: payments from a firm to a partner are not treated as salary under section 15.
Insertion of Explanation 2 specified that any salary, bonus, commission or remuneration due to, or received by, a partner of a firm from the firm shall not be regarded as "salary" for the purposes of section 15; that explanatory provision was later omitted by a subsequent amending Act.
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