28 May 201904:40 PM - edited 28 May 201904:44 PM
We (partner and I) have been share-trading (actively) under a joint account for the past few years. The joint share-trading account at the brokerage is linked to our individual TFNs.
We qualify under the 'share-trading as a business' criteria. We decided to formalise and recently created a "Partnership' with ABN, TFN and a Business name. However, my broker just advised me that they do not offer brokerage service for "Partnership" for Australian clients. Therefore, I unable to create a brokerage account linking it to our Partnership ABN/TFN.
My question is,
1. How do we lodge tax return under the formalised "Partnership" ABN/TFN, if we continue trading under the joint account (linked to personal TFNs)?