Hi all. Please tell me:
Does it really matter all that much (for accounting or ATO purposes), that an expense relating to an investment property is paid from my personal account instead of company account?
Have just started down the path of learning about company structuring, and am concerned bills paid from my personal account SHOULD have (??) been paid from a company account?
Thanks in advance.
Just ensure that the company reimburses you for the payments ie have proof of payment and invoice to company.
Wow stop right that there.
If the property was purchased in your personal name then there is no point in your Company re-imbursing you as the deduction cannot be claimed by the Company.
If the property was purchased by your Company then you can easly contra the amount in to your figures at the end of the year.
Richard Taylor | Australia's leading private lender
thanks. problems sorted.
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