I have a partnership business with a gross income of 20K and all tangible/physical cost of 12K, for 2007-2008. The net income is 8K if I do not consider all hours and days I worked for the business during the year. Two questions -
1. Does ATO require me to lodge a tax return form and how ATO calculates tax over the the net income arising from the partnership biz?
2. Should I consider all hours I worked for the business as part of the business operating cost? In fact, the number of hours is very substantial
I am living in Sydney, can you suggest some reliable and flexible tax return agencies, if you think their services are really trustworthy and personalised?
I am using e-tax for personal tax return.
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你需要填一张partnership tax return,然后把利润分到各个partner头上，包含在他们个人的tax return里
你的business hour不能算成本
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Astina,
Many thanks for the rapid reply. You are wonderful! (I just read the background of your site and you yesterday from a free Chinese magazine called "TongLuRen", and today I just joined your site.)
Yes, I understand what you said. But, will ATO impose a tax over the distributed net income? How could I lodge that amount?
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LZ你是说你是看了同路人对我的采访才找到我们网站的吗？
在个人的tax return上，有个项目就是distributed income from partnership,这部分收入是作为你总收入的一部分，按照累计递进个人税率，来征税的。你用etax一做就明白了。
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partnership tax return,你需要到ATO的网站上找到这张表格，下载打印了填写的
睡去了，祝LZ在玩的开心
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Yes. The 同路人 issue 19/09/2008-25/09/2008. What is LZ?
Yes, I knew that item about the income from partnership business. But from last year 2006-2007, this part of income was negative and very small and it did not translate into any real effect over the amount of the personal tax return.
[ 本帖最后由 austral 于 2008-9-21 23:49 编辑 ]
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下前最后一个回帖：
LZ=楼主，就是你啦
上一年度你的营业额是否没有达到2万？所以亏损不能抵消那年的工资收入。但是你的亏损带入了今年，可以抵消今年partnership的利润
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