Tax benefits largely revolve around how a syndicate is set up.
For example, if the syndicate is set up as an LLC and you receive a pro-rata share of profits, then you will receive shares based on the entity's tax strategy. If you are a debt holder, then you won't share profits and won't gain any tax advantages.
Suffice it to say that taxes can be tricky when working with a syndicate. That being the case, it's a good idea to have a savvy tax advisor on board to walk you through the process and help you save money.