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newlife
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Thanks for your time Cindy,

A trip to an accountant is the next step for me. Your post has brought to light something I hadn’t spent much time in thought about, and that is what it would look like for my friend transitioning from a sole trader to a partnership.

We have only spoken casually about partnerships in the past because both of us weren’t in a position to make that happen. So, as you said, some of the ducks seem to be lining up, so it is now time to actually get answers to all our questions.

My next goal will be to convince my mate to do the right thing, so being armed with the knowledge the ATO is focusing on his industry will help.

Cheers,

Jeffrey