Partnership does not have to submit a T5013 as it does not fall under these categories: The total of all revenue and expenses exceed the $2 million threshold during a fiscal year. This applies even if the expenses exceed the revenue, for instance, if you generate $800,000 in revenue and incur $1.5 million in expenses.
If the partnership owns excess of $5 million in assets. The CRA considers both tangible and intangible assets located in Canada and worldwide.
If you are a partner in another partnership or have a corporation or trust as a partner.
