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
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