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declaring income for this financial year to invest
HI guys
I have been putting all my invoices through as a productivity of labor and do not have my abn on my invoices.
I do my tax returns every year because we have an investment property, but obviously dont include my productivity of labor, just $100 as mark says to put something.We are selling our investment and want to purchase another property, however to do this I need either 2 years INCOME, or 3 month as an employee. The productivity of labor doesn’t requre me to pay tax but cannot be used as proof of a stable income either.
My Questions are:
1 – Can I decide to declare my productivity of Labour for this year as an income even though I haven’t declared the previous years as an income?2 – Would they have any grounds to then say I need to declare the previous years if I am declaring this year as the invoices are set out the same and for the same customer? would it flag them?
3 – Can I declare them without the abn on them? I have looked into it and it seems I can but they do not like it, if anyone knows more here let me know
Ill include an invoice below too.
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3 Replies
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Hi Laura there is a webinar on this Wednesday july 3rd that will have a q and a at the end. I think you will find it very helpful in this area….https://solutionsempowerment.org/event/webinar-integrate-running-your-business-in-the-public-with-the-private-realm-and-how-to-run-a-business-in-the-private-realm/
solutionsempowerment.org
Webinar: Integrate Running Your Business In The Public With The Private Realm And How To Run A Business In the Private Realm – SolutionsEmpowerment.org
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HI Morag
Thats great. I have actually made myself available for this one so I am glad its relevant to my questions. Thank you 🙂 as always 😀-
That’s my pleasure 🙂
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