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Client is a partner in a professional practice. On joining, she paid a capital sum for her share of the business. She proposes to work part-time in the business for 5 years until she retires fully. She will be paid no salary during those five years, but she will be repaid her capital in full by monthly payments. Will those payments be taxed as income?

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Asked on 4 July 2019 8:06 am
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