Partnership Agreement Between Trustees
A partnership agreement between trustees including natural persons and family trusts as parties.
May be adopted by an existing partnership that is already trading
Family trusts of each partner are included as parties and may share in partnership profits. This allows maximum flexibility in terms of minimising tax and incoming distribution
This Partnership Agreement Between Trustees Includes:-
- 1. INTERPRETATION
- NAME NATURE AND CONDUCT OF BUSINESS
- PLACE OF BUSINESS
- LOANS TO AND BY PARTNERS
- SHARE OF PROFITS AND LOSSES
- LEAVE ENTITLEMENTS
- DUTIES OF PARTNERS
- PROHIBITIONS OF PARTNERS AND PRINCIPAL
- ACCOUNTS AND FINANCIAL RECORDS
- ANNUAL ACCOUNTS
- PARTNER LIABILITIES
- ILLNESS AND INCAPACITY
- PARTNERSHIP MEETINGS
- ADMISSION OF NEW PARTNERS.
- DEATH BANKRUPTCY AND INSOLVENCY OF A PARTNER
- EXPULSION OF A PARTNER
- RESTRAINT ON PRINCIPALS
- SALE OF PARTNERSHIP INTERESTS/RIGHTS OF FIRST REFUSAL
- MAJORITY SALE
- CHANGE IN CONTROL OF PARTNER
- ARBITRATION OF DISPUTES
- SPECIAL RESOLUTION
- FIRST SCHEDULE
- SECOND SCHEDULE
- THIRD SCHEDULE
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Agents conducting business in the capacity of trustee of a trust: registration considerations
This information sheet is also available as a PDF, download TPB(I) 03/2011 Agents conducting business in the capacity of trustee of a trust: registration considerations
This is a Tax Practitioners Board (Board) Information Sheet (TPB(I)). It is intended to be for information only. It provides a brief overview of the TPB’s position on registration requirements for tax practitioners conducting business in the capacity of a trustee or a trust at the date of issue. While it seeks to provide practical assistance and explanation, it does not exhaust, prescribe or limit the scope of the TPB’s powers provided in the Tax Agent Services Act 2009 (TASA).
In addition, please note that the principles, explanations and examples in this paper do not constitute legal advice and do not create additional rights or legal obligations beyond those that are contained in the TASA or which may exist at law.