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Paying you and your business partner from profits in your business

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Hi there,

After approx 5 weeks in our small business, my business partner and I have decided that we can take some 'wage' from our profits. I remember reading on one of these forums a few weeks back about just setting yourself and business partner up as a supplier and to pay yourself that way. No GST, Tax Free.

Is this correct? or do I have to 'pay' ourselves another way?

thankyou

Wendy


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