Run my business from home as Trusts and companies
Trusts and companies If you operate your home-based business as a trust or company, the business should have a genuine, market-rate rental contract (or similar agreement) with the owner of…
Occupancy expenses – Running Business from Home
What are Occupancy expenses? Occupancy expenses are the expenses that you pay to own or rent your home. For example: - mortgage interest or rent - council rates - land…
Take money out of the company for private purposes
Director loan and Division 7A If a Director or Shareholder take money out of the company or use its assets for private purposes, an unfranked, deemed ‘Division 7A’ dividend can…
Report Director use of the company’s money – Method 5
Director Loans from the company A company can make a loan to a shareholder or director. However, to avoid tax consequences, before the company tax return is due or lodged…