Partnership Tax Return (NAT 0659)

Issuing authority

Australian Taxation Office

Official source

How to apply

1. Determine whether your business structure qualifies as a partnership for tax purposes (general law or tax law partnership).
2. Obtain NAT 0659 via ATO Online Services for Agents, approved tax software (e.g. Xero Tax, MYOB Tax), or order a paper copy from iorder.com.au.
3. Compile the partnership's income, deductions, CGT events, and each partner's share of net income or loss for the financial year.
4. Complete all sections of the Partnership Tax Return including the business and professional items schedule if applicable.
5. Prepare and attach any required schedules (e.g. CGT schedule NAT 3423 if total capital gains exceed $10,000).
6. Each individual partner must also include their share of partnership net income in their own individual or company tax return.
7. Lodge electronically via ATO Online Services for Agents or approved tax software, or post the paper form to the ATO.
8. Self-lodging partnerships must lodge by 31 October each year; registered tax agents receive an extended lodgment program schedule (often up to May of the following year).
9. Pay any tax assessed — partnerships themselves are not taxed, but any amounts owing by partners must be paid by the due dates on their individual notices of assessment.

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