Compare structures and filing duties
Ordinary partnerships, LLPs and LPs do not pay income tax at entity level under this guidance. Individual partners use individual tax treatment and corporate partners corporate tax treatment. All still file partnership information. An LLP has separate legal personality; an LP has at least one unlimited-liability general partner and one limited partner without separate legal personality. The source distinguishes legal structure from income-tax transparency.
Contributed capital and deductions
Cumulative relevant deductions for LLP partners, and LP limited partners, cannot exceed contributed capital at the basis-period end. LP general partners do not have this restriction. Capital includes qualifying cash or in-kind contributions and retained entitled past profits, but excludes partner loans. Withdrawals reduce capital and may create taxable deemed income where past deductions exceed the reduced amount. The page requires independent valuation for specified in-kind assets above S$500,000 and links detailed LLP and LP PDF guides.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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