Rate of Return Calculator Retirement Planning Calc. Retirment Asset Allocation RRSP Graphing Calculator RRSP Tax Savings Calculator After-Tax Returns Calc. A limited partnership is usually constructed to raise money for a group investment. There can be just a few or hundreds of investors in a given project. There is a general partner who handles the administrative end of things.
Limited partners participate in the tax ramifications of the partnership.
If there are gains, they benefit and pay tax on those benefits. If there are losses, they are entitled to claim such losses on their tax returns as well. Limited partnerships have been put together for all sorts of investments including apartment buildings, hotels and motels, Arabian horses, and bovine embryos. The players in the above affair have surfaced again, this time in the Court of Appeal for Ontario where the investors have sought permission to appeal the earlier decision. The investors argue that the compliance officers did not do their jobs properly with respect to the investments in question.