Hi everyone
Pertaining to wraps, is tax paid on the gross revenue (i.e. the amount the wrappee pays to the wrapper) or is
tax only paid on the profit that is left over after all expenses have been paid?Your help with this question would be greatly appreciated.
Regards
Nathan
Nathan
Without going into too much depth it is paid on the "Emerging Profits" rule.
If you have got your PBR then check out the ATO website.
Richard Taylor | Australia's leading private lender
Hi Nathan
One of the best explanations I've seen regarding the taxation of Wraps is from Julia at:
https://www.propertyinvesting.com/forums/treasure-chest-past-forums/hotch-potch/9088?#comment-57180I hope that helps.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
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