Good video Ethan, thanks! I enjoy your content. I created a company aprox 1.5years ago, made myself and my partner directors and shareholders. It employs him to drive a tipper truck and I loaned the company a lump sum to get started and purchase said truck.
Great vid mate, quick question. Say U have a company which has profit of $50,000. If U buy shares in the business name on stock market. Do U first have to pay tax on the profit? Cheers Graham
If the company is just set up then it pay dividends to shareholder or it can only pay dividends after doing 1st year tax return? Could you plz explain?
@@EthanRooshock Thankyou for your reply I currently have a company structure in the painting and decorating industry but thinking of become a sole trader as I only have myself and 1 other employee as its just not worth the headache especially since have reduced staff due to builders going bust and not being paid
Do you use a company structure for your business?
Thanks Ethan, perfect timing. Full of reality helpful information. Cheers 👌
Awesome, glad you found it helpful!
Great video man. THanks
Thanks mate!
Thanks heaps mate, clear and well explained. Will subs your newsletter.
No worries, glad it was helpful!
Good video Ethan, thanks! I enjoy your content. I created a company aprox 1.5years ago, made myself and my partner directors and shareholders. It employs him to drive a tipper truck and I loaned the company a lump sum to get started and purchase said truck.
I'm glad you've been enjoying it!
Great vid mate, quick question. Say U have a company which has profit of $50,000. If U buy shares in the business name on stock market. Do U first have to pay tax on the profit? Cheers Graham
Thanks! The company would still have to pay tax on the $50K as the shares wouldn't be an expense, and instead would be an asset purchase.
@EthanRooshock thx, I though so.
@@theaussienurseflipper.8113 No worries!
If the company is just set up then it pay dividends to shareholder or it can only pay dividends after doing 1st year tax return? Could you plz explain?
Do you mean in the 1st year?
@@EthanRooshockyes
@@jaspreetgrewal6187 Definitely need to get advice in that situaiton.
Can you get money out of your company as contactor concept but without a separate ABN?
Definitely check with your accountant on that one as it's a complex one.
Can you employ yourself as a contractor to your company using a abn for yourself to avoid paying super to yourself as a director
Definitely an area to seek advice from your tax agent. I don't want to give you the wrong information as that is a unique situation.
@@EthanRooshock Thankyou for your reply I currently have a company structure in the painting and decorating industry but thinking of become a sole trader as I only have myself and 1 other employee as its just not worth the headache especially since have reduced staff due to builders going bust and not being paid
🙏🏽🙏🏽🙏🏽🙏🏽🙏🏽⭐️⭐️⭐️⭐️⭐️
Thanks!!