A look-through company (LTC) is a special type of company. It's a separate legal entity but for income tax purposes it's treated like a partnership.
Tax summary
A look-through company must file income tax returns and report to us the same way as an ordinary company.
Owners can offset the look-through company's losses against their other income. They must pay tax on a look-through company's profits.
Look-through company owners are treated as:
- carrying on the activities and having the status, intentions and purposes of the look-through company
- holding the look-through company's property
- being a part of any arrangement the look-through company is involved in
- doing an activity or being entitled to anything the look-through company does or is entitled to.
Last updated:
07 Jan 2021