Hi all, i'm hoping you can help me with my situation. I own my own business (currently paying myself approx. $40K) but also have multiple neutrally geared properties under my own name with depreciation (giving me approx $30K of tax deductions). How is it best to manage my tax?
Option 1.
Pay myself additional amounts through my business and put the money back into the business as a personal loan therefore utilising all of the deductions my own name. With this approach, i get to take advantage of the tax $18,200 tax free threshold.
Option 2.
Don't worry about the $18,200 tax free threshold. Run the business at zero profit and keep the tax deductions under my own name?
What do most investors do?
Gaz
Option 1.
Pay myself additional amounts through my business and put the money back into the business as a personal loan therefore utilising all of the deductions my own name. With this approach, i get to take advantage of the tax $18,200 tax free threshold.
Option 2.
Don't worry about the $18,200 tax free threshold. Run the business at zero profit and keep the tax deductions under my own name?
What do most investors do?
Gaz