Home Forums Money matters Partnership tax return – defer loss

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  • #999828
    IdaK
    Member
    • Total posts: 1
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    Hi,

    My partner and I registered a new small business in February 2019. It’s set up as a partnership with just the two of us as equal partners.
    This year we’ve only had expenses related to the setup of the business and no income. Neither of us have other jobs or have had other income.

    What is the easiest way to lodge our partnership tax return? Can you recommend a software to use?

    Most importantly: How do we defer our losses to next year? Is that done on the partnership return?

    Thank you!

    #1221535
    Paul – FS Concierge
    Keymaster
    • Total posts: 3,226
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    Hi and welcome to Flying Solo.

    Hopefully some helpful members will be along soon with some advice to point you in the right direction.

    Cheers

    #1221536
    bb1
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    • Total posts: 4,485
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    See an accountant

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