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How to use ChatGPT + Notion in every small business, company versus Sole Trader & paying yourself dividends

Australian Business Podcast

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How to Pay Tax on a Loss

If you're running at a loss for one, two or three years, in you four, those prior losses can then offset those profits. So you don't have to pay any company tax if those losses cover what your profit is. The frankincredits only occurs on payment. Once you've paid the tax, that's when the frankincredits is recorded. You might be sitting there as an accrual, so you've lodged the return back physically, you haven't paid it. Then, on a future date, to use sort of personally, when you get paid that dividend. Okay. Well, that's actually a pretty good spot to be in. And this is a massive

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