Question
Can a working partner in a business be paid a salary as well?
Answer
Partners in a business are not entitled to a salary regardless of their work. They are entitled to only profit. So whatever the partners have taken by way of 'salary' will be against their profit. If the business shows a loss, they have to return whatever they had withdrawn and pay the debts.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 27 No 01
- PDF page
- 5
Appears under MAKTAB SYLLABI (approximate).