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Personal tax of small business owners?

Posted 7 October 2013

Hi Tim. I have a trading business registered as a Pty Ltd that I started this year. The company only makes enough to cover its costs as it is still in its startup phase. I do not pay myself a salary as I do not have much in the way of living expenses. How would I treat my personal tax return?

TaxTim TaxTim says:
8 October 2013 at 13:48

The separate business is not in your name and if you do not take a salary or declare dividends then you need not show any income on your personal return.

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