When you dissolve your partnership business structure you may have to comply with different or additional requirements.

There are different ways to dissolve a business partnership:

  • the partnership term as stated in the formal partnership agreement expires
  • one partner gives written notice to the other partners to exit the partnership
  • one or more partners can no longer legally own a business
  • a court issues a court order to dissolve the business
  • a partner becomes bankrupt
  • one of the partners dies
  • the business is bankrupt or insolvent

If the partnership continues with the remaining partners or new partners, find out how to change of ownership.

If the partnership decides to close the business and cease trading, find out how to close your business.

Legislation to dissolve a partnership

The formal partnership agreement will dictate the terms and conditions to dissolve a partnership

Partnership Act

If no partnership agreement is in place, state or territory legislation will guide the terms and conditions:

State and territory requirements

There may also be different legal requirements when dissolving a partnership for your individual state or territory.

Contact your state's government business authority for more information: