I transferred $200 from my Bendigo bank account into my PayPal business account that is used for most of my business expenses. I am wondering if I have to report this transferred amount as income on my tax return despite being a sole trader.
Hi @Adam_murdoch,
The money is yours, it hasn't changed hands. There's no need for you to include the transfer on your tax return.
When you first received the income you would have let us know about it and we would have asked you to pay tax on it unless it was a gift.
If you haven't already check out the individual tax return instructions 2022 on our website.
Happy lodging!
Hi @Adam_murdoch,
The money is yours, it hasn't changed hands. There's no need for you to include the transfer on your tax return.
When you first received the income you would have let us know about it and we would have asked you to pay tax on it unless it was a gift.
If you haven't already check out the individual tax return instructions 2022 on our website.
Happy lodging!
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