a partnership is basically the same as being an individual. the partnership profits or losses are split, distributed & taxed in the hands of the individuals; which includes the availability of the 50% CGT discount
a company is taxed at 30% but the only way for you to get the money is to pay a dividend to yourself. the dividend is taxed at ordinary individual rates in the hands of the individual
a company allows you to pay less tax & therefore have more cash to trade with (when it does not pay out dividends)
however:
* a company does not receive 50% CGT discount on sale of shares held for over 12 months
* company losses cannot be distributed out of the company (unlike partnership losses can be distributed to the partners)
