So I been share trading this financial year, but was unaware that I needed an Business ABN.
I applied and received my ABN on the weekend. Can I record my profits using this ABN in the business section of my tax return this financial year, or do I have to wait until next financial year?
Hi @neostars,
You will need to record in the financial year the income was received. You can also backdate to the start date of ABN if needed.
I have found some information for reporting and paying tax that may help you.
Hope this helps!
Hi @neostars,
You will need to record in the financial year the income was received. You can also backdate to the start date of ABN if needed.
I have found some information for reporting and paying tax that may help you.
Hope this helps!
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