the big tax man

[Alastar]

Gday all
first timer blogger, haven’t as yet started my business up just seeking advice from every were as to get it done right the first time round. I am a fly in fly out worker wonting to start up contract work when I am on my off weeks, slowly build it up with cash this way to steam role other ideas I have, rolling contracting, land estate/developments/renovation and shares all under the one business umbrella, slowly of course.

But how can I if even possible avoid paying second income tax (minimise), I will not be seeking a wage from this business for many years to come, instead pushing all cash back in to build it stronger, does this even matter to the tax man???

I will be talking to an accountant but you guys may have some secrets..

[FS Concierge]

Hi Alastar,

Thanks for joining the forum, and good luck with your new venture.

Others may have different opinions, but I think you will need to chat with your accountant about this - the advice you need will be very specific to your circumstances.

I hope it all goes well for you,
Jayne