Partnerships and Income Tax
Partnerships do not pay income tax. Members must include their share of the partnership's income or losses in their own income tax returns.
However, partnerships must file information returns.
Partnerships can be exempted from filing an information return under a Revenu Québec administrative policy.
Principal changes for 2025
To see what's new for 2025, see Principal changes in the Guide to Filing the Partnership Information Return (TP-600.G-V).
Obligation to file an information return
The following types of partnerships must file a Partnership Information Return (form TP-600-V) for every fiscal period:
- any partnership that carries on a business:
- in Québec
- in Canada, outside Québec, where one of its members is an individual (including a trust) that is resident in Québec or a corporation that has an establishment in Québec
- any Canadian partnership or specified investment flow-through partnership (SIFT partnership) with a member who is an individual (including a trust) who is resident in Québec or a corporation with an establishment in Québec
- any partnership that owns a specified immovable and has a specified trust as a member
For more information on this obligation and possible exemptions from it, see Obligation to file the information return in the Guide to Filing the Partnership Information Return (TP-600.G-V).
Partnerships exempted from filing an information return
If a partnership is not required to file an information return, every member who is an individual must complete Schedule L of their income tax return and enclose it with their return along with the partnership's financial statements for the fiscal period (or, as applicable, form TP-80-V, Business or Professional Income and Expenses, or TP-80.AP-V, Farming or Fishing Income and Expenses) and a breakdown of the amounts allocated.
For more information, see guide IN-155-V, Business and Professional Income.
Identification number
All partnerships that are required to file an information return must have an identification number and use it when they communicate with us or file certain documents.
For more information, see Identification number in the Guide to Filing the Partnership Information Return (TP-600.G-V).
Filing RL-15 slips
Partnerships that are required to file an information return must also file RL-15 slips (see courtesy translation RL-15.EX-T) to inform members of their share of income or losses, capital gains or losses, deductions, etc.
A partnership in the following situation must file RL-15 slips for all its members (including those who are resident outside Québec):
- It carries on a business in Canada, outside Québec.
- It owns a specified immovable.
- One of its members is a specified trust.
To learn more, see Obligation to file RL-15 slips in the Guide to Filing the Partnership Information Return (TP-600.G-V).
Filing deadline
The information return and required documents must be filed:
- by March 31 of the calendar year following the year in which the partnership's fiscal period ended, if, as applicable:
- throughout the fiscal period, all members of the partnership (including end members in the case of an interposed partnership) were individuals (including a trust)
- the information return is filed by an investment club
- within five months after the end of the partnership's fiscal period, if, throughout the fiscal period, all the members of the partnership (including end members in the case of an interposed partnership) were corporations
- in all other cases, by the earlier of:
- March 31 of the calendar year following the year in which the partnership's fiscal period ended
- the last day of the fifth month following the end of the partnership's fiscal period
To learn more, see Filing deadline in the Guide to Filing the Partnership Information Return (TP-600.G-V).
Instructions for completing the information return
Click the following links for instructions for completing the Partnership Information Return (form TP-600-V) and its schedules:
Documents to enclose
You must enclose the following with the information return:
- the following schedules, as applicable:
- Schedule A, Partners' Interests and At-Risk Amounts
- Schedule B, Capital Cost Allowance (CCA)
- Schedule D, Member Corporations' Shares of Paid-Up Capital
- Schedule E, Summary of Certain Information to Enter on RL-15 Slips
- Schedule F, Net Income for Income Tax Purposes
- the following forms:
- Deduction Respecting Scientific Research and Experimental Development Expenditures (RD-222-V)
- Income Tax Payable by a SIFT Partnership (TP-1129.71-V)
- Cryptoasset Return (TP-21.4.39-V)
- the partnership's financial statements