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  • Writer's pictureBBDB

Do you use business money for private purposes?

If you use money or assets from your company or trust for private purposes, it’s important to consider there may be tax consequences.

This applies for business money and assets such as:

salary, wages and director’s fees

fringe benefits and allowances

company dividends or trust distributions

loans of money or assets from a company or trust.


https://www.ato.gov.au/Newsroom/smallbusiness/Lodging-and-paying/Do-you-use-business-money-for-private-purposes-/?sbnews20221123


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