Page 15 - Partnerships

PARTNERSHIPS

New Partner Joins

• Chad and Mat are partners. Debtors at 29

February 2016 was R100 000. On 31 April 2016

Peter joined the partnership. On 1 July 2016 one

of the debtors in the 2016 YOA, amounting to R15

000 went bad. Partners share profits and

• losses equally.

• s11(i) = 15000 x 33.33% = R5 000 each for Chad

and Mat

• s11(i) = 15000 x 0% = R0 for Peter (no deduction

as not included in income)

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