Limited partnership units. Taxation

Discussion in 'Exchange Traded Funds (ETFs)' started by joe sod, Aug 27, 2016.

  1. joe sod

    joe sod Frequent Poster

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    I purchased limited partnership units last year in a company on a US exchange. To me they were the same as shares as the ticker and purchase were the exact same as buying shares or etfs. However I now realise that they are limited partnership units and to further complicate things they are a Canadian company traded on the US exchange. I got paid dividends and withholding tax of 25percent was deducted. Normally for Canadian companies 16percent is deducted and I get a credit for this when declaring dividends to Irish tax authorities.
    However for limited partnerships strictly speaking you don't receive dividends but shared profits. My question is how do I deal with this in relation to Irish tax. Do I get a credit for it the same as I do for normal dividends and do I just declare them the same as normal dividends. Also I presume there is no exit tax and deemed disposal at 8 year malarkey. I understand that this is detailed question and most people probably don't know anything about them
     
  2. joe sod

    joe sod Frequent Poster

    Posts:
    327
    im just wondering does anyone know much about this, seems to be very little information on how to proceed