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
Hi Joe, just wondering if you got any clarity on the treatment of these. I am considering purchasing some, and it would be great to know the implications. Many thanks
hello there mahart, no I never found much information on them at all. I sold them afterwards due to this issue of how they are taxed. I think they are good for US investors and are really only available on the US brokerages but there is very little information on them this side of the pond