Hi there,
I'm looking at starting another company with a business partner in a totally unrelated industry and want to know of I can use money from the company I've started and running (company a) and have saved to use a capital to start the new company (company b).
if I transfer money from company a to company b will that lower my taxable income from company a?
And will company b need to pay back that money to company a?
If so it will need to be a loan with interest charged?
And will the money injected into company b be taxable income?
Tia
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1,217 views
1 replies