• Minimising Tax

  Personal Tax return and applying for a business loan?

  Posted by natty-t on September 18, 2023 at 1:29 pm

  Hi, I am new to this process. My husband and I have three years of personal tax returns to complete with PAYG withholding. This would be a significant amount for us. However, we are in the process of applying for a business loan to purchase a property and a business. I am concerned that our tax return will show less than $18k income each, or that we get audited and this shows up when we apply, or we cannot demonstrate completed tax returns.

  Any advice? Should we suck it up, apply as normal and start for for 2024?

  morag-janet-of-the-hill-family replied 1 year, 9 months ago 2 Members · 2 Replies
• 2 Replies

• 

  natty-t

  Member

  September 18, 2023 at 1:33 pm

  Also, will a triggered their attention if I do 2021 personal tax return as recommended here, then 2022 and 2023 as normal, then 2024 and beyond as per recommended here?

  • 

    morag-janet-of-the-hill-family

    Member

    September 18, 2023 at 5:08 pm

    I’m not sure about this but Mark has had extensive experience with tax and loans so maybe ask him at the next Q and A?

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