Partnership generalNew Zealand
What it takes to form, own and run a general partnership in New Zealand, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
Quote
If there is a debt, each partner can be made to pay the full amount.
Quote
Partnerships are two or more people who join to run a business.
Quote
If a partner makes, for the purpose of the partnership, an actual payment or an advance that is more than the capital that the partner has agreed to provide, the partner is entitled to interest from the date of the payment or advance.
Form it
Who registers it
Not in our records Registry, Formed without visiting, Formed online: none of these is in our records for the general.
What it takes to form
Not in our records A notary, A resident director, Paying up the capital: none of these is in our records for the general.
Own it
Who may own and run it
- Directors
- Does not apply
- Shareholders
- Does not apply
- Members
- At least 2
Quote
Partnerships are two or more people who join to run a business.
- A local company secretary
- Does not apply
- A local registered agent
- Does not apply
Each year, at the registry
- Annual registry fee
- Does not apply
- Accounts on the public record
- No
Quote
The partners of a large partnership must ensure that, within 5 months after the balance date of the partnership, financial statements that comply with generally accepted accounting practice are— (a) completed for the partnership and that balance date; and
- Audit for a small company
- Not required
Quote
The partners of a large partnership must ensure that the financial statements of the partnership are audited by a qualified auditor.
- Audit
- Not in our records
Important dates
When each obligation falls due, as the authority states it.
- Partnership income tax return
- Not in our records
With Inland Revenue
Not stated on ird.govt.nz/income-tax/income-tax-for-businesses-and-organisations/income-tax-for-partnerships when checked
What is public
Not in our records What the register shows the public is not in our records for the general.
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Through owners
Partnerships do not pay income tax on their profits. The partners pay income tax on any profit.
Quote
Partnerships do not pay income tax on their profits.
- CFC rules in New Zealand
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
Not in our records Route, Statutory fee: none of these is in our records for the general.
Every business in New Zealand
VAT
- Standard rate
- Not in our recordsThe tax authority’s pages have not been read for New Zealand.
Payment and banking services
2 services name New Zealand on their own list: Airwallex, Stripe. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- General partnershipDerived our grouping, the same words in every country
- Name in law
- Partnership (general)
- ISO 20275 code
- WEIBSecondary GLEIF, Entity Legal Forms code list