On 22 November 2004, amendments to the Queensland Partnership Act 1891 became effective. The new Act establishes Incorporated Limited Partnerships (ILPs).
The Queensland Act is similar to the NSW Act that was enacted earlier this year. A fact sheet outlining the Queensland changes has been prepared by the Queensland Office of Fair Trading.
The State Acts reflect the Commonwealth Venture Capital Act 2002 which gives tax exemptions to a venture capital limited partnership. Such a partnership can be registered in Queensland as an ILP enjoying limited liability.
.Everyone should have a love.Because love is pure.
Posted by: toryburch | January 21, 2011 at 01:40 PM