Skip to navigation Skip to content

Assessing partnership assets 043-03120060

Expand/Collapse all sectionsExpand all


This document outlines an overview of assets test assessment of a partnership business. That is, the amount the customer would receive if the partnership were wound up.

Value of interest in partnership

The value of a customer's equity in a partnership will depend on:

  • the net value of the partnership assets (calculated using the current market value of the assets and liabilities values shown in the financial accounts)
  • the proportion of the net assets which the customer is entitled to receive
  • the net amounts contributed or withdrawn by the individual partners
  • the wording and intent of the partnership agreement

Supporting documentation

Customers who are involved in partnerships need to provide supporting documentation to assist the agency in correctly assessing the current market value of the partnership.

Service Officers and Complex Assessment Officers (CAO) must use the correct date of event for business income and assets.

The Resources page contains links to the Business Details (MOD F) and Real Estate (MOD R) forms and information about partner's Capital and Current Accounts held in a partnership. It also contains information and examples about partnership property.

Sole traders

Partnerships

Business has ceased or has been sold

Assessing partnership income

Assessment and sale of real estate and timeshare asset

Valuation of real estate and other assets at new claim

Loans and liabilities against assets

Assessing partnership income

Share traders

Common financial statements

Assessing and coding the Business details for sole traders and partnerships MOD F