Hello all, i'm hoping that someone out there may be able to answer this question. A friend and I set up a business partnership, has an ABN and TFN created. The business didn't end up going ahead and we decided to cancel it. Do we still need to lodge a Parnership Tax Return for the the financial year just gone as the business was registered in march 2015. If we need to send in a tax return, do I just send in one with all zero's and then tick the box that indicates it's a final tax return? thanks in advance everyone.
Question regarding business partnership tax return
TPM1978 on 05/09/2015 - 20:29
Comments
Thanks for your reply. I'm not sure what you mean. Did we register for PAYG do you mean? - all we did was register the business name, got a Tax File Number and ABN.
Maybe they meant, did you register for GST ?
(Which I'm guessing you didn't)
Did you register for tax when your partnership began?