Trading as a business
- Thread starter wags
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tech/a
No Ordinary Duck
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By business you mean company?
If you're just talking Sole trader as in owner operator then I'd say no.
If you were employing people and/or making over 75K a year then the tax advantages of a company may be worth investigating.
If this sounds like you find a good accountant.
Thats not that easy.
I interviewed 3 before I settled on mine 15 yrs ago.
If you're just talking Sole trader as in owner operator then I'd say no.
If you were employing people and/or making over 75K a year then the tax advantages of a company may be worth investigating.
If this sounds like you find a good accountant.
Thats not that easy.
I interviewed 3 before I settled on mine 15 yrs ago.
RichKid
PlanYourTrade > TradeYourPlan
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wags said:
If you do start a small business, then going by all the concessions the govt has been bribing small business owners with during elections it should be a good thing if it suits you.
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A company is only taxed at 30% so there is an advantage if that is less than your marginal tax rate. However, you will have to make up the difference if you pay yourself from the company as a dividend, So the advantage is mainly if you are reinvesting most of the proceeds.
I think you have to be careful on how you set it up as the tax department frowns on it if it thinks you are just setting up a company to minimize your tax.
MIT
*** I am not an accountant so always take professional advice ***
I think you have to be careful on how you set it up as the tax department frowns on it if it thinks you are just setting up a company to minimize your tax.
MIT
*** I am not an accountant so always take professional advice ***
Trading as a business?
Should you trade under an ABN? what are the benefits for doing so?
Is this only something to worry about when trading large amounts of money?
I have actually had an ABN for a business in the past, could i re-register this abn but for a trading business?
Any advice would be greatly appreciated
Stink
Should you trade under an ABN? what are the benefits for doing so?
Is this only something to worry about when trading large amounts of money?
I have actually had an ABN for a business in the past, could i re-register this abn but for a trading business?
Any advice would be greatly appreciated
Stink
tech/a
No Ordinary Duck
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Re: A Business?
As a sole trader no.
If your starting a company/or super then yes.
Contact a good accountant.
As a sole trader no.
If your starting a company/or super then yes.
Contact a good accountant.
tech/a
No Ordinary Duck
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Re: A Business?
As part of your SMSF
you'll probably do it as trustees of XXX superfund which will mean an ABN will be allocated as a requirement for a SMSF.
As part of your SMSF
you'll probably do it as trustees of XXX superfund which will mean an ABN will be allocated as a requirement for a SMSF.
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Trading as a business..
Hi all,
What is the best, most simple way to get yourself set up as a business, so you can account for trades, etc separately, as well as account for expenditures such as education and equipment such as computers, etc?
what do you do? trade as a business or just continue to trade as an individual?
thanks in advanaced
Hi all,
What is the best, most simple way to get yourself set up as a business, so you can account for trades, etc separately, as well as account for expenditures such as education and equipment such as computers, etc?
what do you do? trade as a business or just continue to trade as an individual?
thanks in advanaced
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