Partnership Information Return: Failure to Provide Certain Information Will Be Temporarily Tolerated
For fiscal periods ending in 2012, Revenu Québec will tolerate that partnerships do not provide certain information regarding the calculation of the adjusted cost base (ACB) and the at-risk amount (ARA) in the new Schedule A, Partners' Interests and At-Risk Amounts, of the Partnership Information Return (TP-600-V).
Consequently, a penalty will not be imposed for failure to provide such information only for a fiscal period ending in 2012, provided
- the partnership's members, representative or agent completed the schedule to the best of their knowledge;
- the return was filed by the deadline.
For more information on the obligations of partnerships, click Partnership Information Return.