I applied a ABN for sole trader in the last tax year but the bisiness had zero income. I have already deregistered the ABN. How do I report this in my individual tax return?
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If you have nothing to report as business income or deductions you can leave this as nil on your individual tax return
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If you have nothing to report as business income or deductions you can leave this as nil on your individual tax return
There’s a question in the tax return asking status of business and the options are 1. Ceased business 2. commenced business and 3. continuing business.
My business ceased in Feb 2024 but re-activated in July 2024 using the same ABN. Which of the above option should i choose?
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