Skip to main content

Service changes and updates IR offices, myIR and phone lines (SPK2IR) are unavailable until the morning of Thursday 28 October for planned system maintenance. Find out more

Resurgence Support Payment (RSP) You will not be able to apply for the RSP in myIR until the morning of Thursday 28 October. Businesses affected by the alert level increase that started on 17 August can apply in myIR from 28 October. Applications for a 4th payment round are planned to open on 29 October. Find out more

Resurgence Support Payment (RSP) The government has announced an increase to the amount and frequency of the RSP from 12 November. Find out more

Partnerships are two or more people who join to run a business. Each partner contributes something to the business and shares the profits and losses.

Tax Summary

Partnerships hold an IRD number for the entity itself, but the partnership does not pay income tax. They need to complete a Partnership income tax return (IR7) to allocate the profits or loss to its partners.

Partners declare the profits or loss they have received through the partnership in their personal income return using their own IRD numbers.

Partnerships need to register and pay GST if their turnover is more than $60,000 a year.

Jump back to the top of the page