A posting to the LinkedIn group “CDN Tax Cases and Tax Commentary” a few days ago alerted me to a post on the CRA website, which post contained the following gem:
In February 2012, the CRA issued a revised version of the Partnership Information Return (T5013). A key change was to schedule 50 of the T5013 return, which now requires information on adjusted cost base (ACB) and at-risk amount (ARA) calculations for partners.
Accountants must be thrilled to death with this one. Imagine trying to track down this kind of information from the partners of a large accounting or legal partnership!
