If you own rental property in partnership with one or more people, you will need to file partnership tax returns for the property. Each owner also files their own individual tax return for their share of the rental income.
The partnership needs:
- its own IRD number
- a set of accounts to record its income and expenses.
When you do not have to file a partnership tax return
Married, civil union or de facto couples do not need a partnership IRD number or tax return. Each person just needs to include a copy of the rental accounts in their individual tax return.
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