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Working for a boss and using your salary to fund your own private company

Posted 23 July 2014

I am permanently employed at a company and receive a monthly salary, which I would like to use to fund my own business which is a registered pty ltd.

At present all my business expenses are coming off my personal account, but I would like to pay them from my business account, which means having to transfer of my salary into my business account.

What are the tax implications and what would you advise I do?

TaxTim TaxTim says:
23 July 2014 at 14:26

There are no tax implications, you are allowed to transfer money from your different accounts, but you would need to record the money invested in the business as capital or a loan to the company and make sure you keep proper records.

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