Announcements
Are you a tax professional needing a bit more time to lodge? Check out how to apply online for a deferral, or ask the Community!

ATO Community

Do I need to lodge tax return for a company with small transactions?

Initiate

Views 139

Replies 2

I recently set up a company (in mid May 2021), and there will be no or very small transactions such as a fee for bank's savings account etc until 31 June 2021. Or the company may invest in some shares, but not selling until 31 June 2021. 

 

In other words, the company will not make any profit until 31 June 2021, but only small expenses or investing in shares. 

 

I wonder if I have to lodge tax return for the company for this finance year (FY 2021). 

 

Thank you in advance. 

 

 

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Devotee

Replies 1

Yeah mate - you do.

 

You either have income - so need to file a return or, made a losss - so need to file a return (see table A).

2 REPLIES 2

Most helpful response

Devotee

Replies 1

Yeah mate - you do.

 

You either have income - so need to file a return or, made a losss - so need to file a return (see table A).

Initiate

Replies 0

Thank you for the rely Smiley Happy