Tax Returns for Partnerships – Part 1 – Zero to Mini Hero 2025

This unit gives an overview of types of partnerships, before going into issues relating to employees and payroll.

Includes tax return demo on Xero Tax.

In this unit, we cover:

• Case Study Recap

• Partnerships 101

  • What’s a partnership?

  • How is a partnership taxed?

• Rental Properties

• Joint Ventures 101

• Partnerships vs Joint Ventures – Summary

• Selected Accounts – Employment-related

  • Fringe Benefits Tax & Entertainment

  • Salaries & Wages

  • Superannuation Contributions

  • Superannuation Guarantee Charge (SGC)

  • Superannuation Contributions for Individual Partners

  • Other costs of employment

• Preparing rental schedule for Homer & Marge

• Preparing tax rec & tax return for Simpson & Simpson Lawyers Partnership