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2 Answers

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In the calculation, partners' salaries' effect was removed to arrive at the adjusted profit of the partnership. And at the table below, the adjusted profit of the partnership was distributed to partners on equal sharing among partners basis.

But by agreement between partners, partners can have different % of sharing.

answered by (7.5k points)
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Guidance form provided by IRD:

answered by (7.5k points)

Additional discussion: sole proprietor and partnership are not Separated Legal Entity so that can't acquired any property, but they may still can claim Commercial / Industrial building allowances if the sole proprietor and partnership owns a property and grant it to the business for usage.

In IRD's form, we can see cells for Commercial / Industrial building allowances are provided.

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