文章基本信息

标题：The Reform of Partnership Law and Taxation In New Zealand
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作者：Andrew Smith
期刊名称：Journal of the Australasian Tax Teachers Association
印刷版ISSN：1832-911X
电子版ISSN：1832-911X
出版年度：2008
卷号：3
期号：1
出版社：Australasian Tax Teachers Association
摘要：While New Zealand law has provided for both general and special (limited) partnerships for many years, their use has gradually declined as limited companies have become the preferred vehicle for most business activities. This is presumably due to the limited liability afforded to the shareholders of companies. Possibly due to their declining use, New Zealand legislators have not given much priority to reform and modernisation of partnership law. As a consequence, New Zealand's partnership law (particularly with respect to "special" partnerships) is now outdated and not commensurate with international norms. The venture capital industry is one industry that usually favours limited partnerships as a vehicle for investment due to their combination of limited liability and the ability to pass through losses to investors. As existing the rules for "special" partnerships in New Zealand are restrictive and outdated, the absence of a more suitable vehicle for venture capital has hindered the industry in New Zealand. To encourage the development of the venture capital industry, the Government has recently released proposals to amend New Zealand partnership law to allow for limited partnerships to be formed in New Zealand similar to those found in other jurisdictions. In tandem with the limited partnership proposals, the New Zealand Government has recently released a Discussion Document containing proposals to reform the taxation of general partnerships and rules for taxing the new limited partnerships. The objective of this paper is to review these proposals for the reform of partnership law and the new partnership tax regime