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IIn a case I know well, mine, with my payments coming from consulting overseas, and no income since January 2020 due to travel bans in Asia, then here, with only a few dollars from late invoices for work done last year being the only income in calendar 2020, I can not claim a $ and will close the company;This is due to the fact the ATO only consider GST income...So in a nutshell, any export focused business is screwed, but they were not exempting either me or my company from taxes in the last 20y...Based on the latest information I have, i will have to shut my company, there are too many fixed costs in term of insurances, liability, registrations,sites and others fixed costs to carry on an empty shell and there is no end in the near future to this de facto blocus
I
In a case I know well, mine, with my payments coming from consulting overseas, and no income since January 2020 due to travel bans in Asia, then here, with only a few dollars from late invoices for work done last year being the only income in calendar 2020, I can not claim a $ and will close the company;
This is due to the fact the ATO only consider GST income...
So in a nutshell, any export focused business is screwed, but they were not exempting either me or my company from taxes in the last 20y...
Based on the latest information I have, i will have to shut my company, there are too many fixed costs in term of insurances, liability, registrations,sites and others fixed costs to carry on an empty shell and there is no end in the near future to this de facto blocus
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