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Personal tax of small business owners?

Posted 7 October 2013 under Tax Q&A


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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?

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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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Blog Categories


Small
Business
Tax Returns
Made Easy


TaxTim will help you:

 Do Your ITR14 Tax Return without a Tax Expert
 Claim for all the Deductions your Business Qualifies for
 Turn your Accounting Records into a Tax Return

TaxTim asks you simple questions about your business, then processes your answers and completes your ITR14 business tax return instantly.

Get started