Hi everyone, thanks for taking the time to comment,
I am a sole trader and my business and myself only have one tax return (I think). I pay wages to myself from the business and have a PAYG system set up so that I can pay income tax on my personal wages.

I guess what i’m trying to clarify is how i can minimise tax on the remainder of the funds…[Read more]

Hmmmm, what to do? I am a sole trader and my accountant suggested the equity idea, but you say that it could be illegal to borrow money from “myself” I wonder why he suggested that option knowing that i am a sole trader? Do you know any good books or sources of information I could educate myself with (I’m not interested in doing an accounting…[Read more]

Hi Terry,
My accountant suggested the idea about equitising that 20k so that my business owns 20k worth of my investment property, and you are right, I am a sole trader so my business is just me.

I shall ask him about the laws effecting borrowing funds from myself/business for investing if I am not a company.
thanks for your advice/time
cheers,
Sally

Thank you pigs fly,
I think I may be able to purchase investment property with the 20k, and my business will own 20k equity in the property and when I sell it, I will nedd to repay the money to my business and pay the tax on that 20k. Does that sound right?
What do you think about that plan?
I have another question to sneak in aswell if you don’t…[Read more]

thanks so much for answering my question, regards,
sally

Thanks Luke for your advice
and inspiration,
Sally

Cheers Adam,
That is V. helpful