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Hello!

I'm in a pretty unique situation where I am currently on Bridging Visa A, awaiting my appeal to go through for a TSS visa under the job of Retail Buyer. A colleague and I want to start a little side business of selling hair accessories. We want to apply for an ABN as a partnership in order to conduct business online and open a separate business bank account. Neither of us will technically be employed by our company as we will not be paying ourselves a salary. All profit earned will be going back into the business.

Does anyone know if this is legal or if this will interfere with my visa application?

Thanks!
 

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Your best bet would be to see an accountant to see what the legal requirements are .
 

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Hello!

I'm in a pretty unique situation where I am currently on Bridging Visa A, awaiting my appeal to go through for a TSS visa under the job of Retail Buyer. A colleague and I want to start a little side business of selling hair accessories. We want to apply for an ABN as a partnership in order to conduct business online and open a separate business bank account. Neither of us will technically be employed by our company as we will not be paying ourselves a salary. All profit earned will be going back into the business.

Does anyone know if this is legal or if this will interfere with my visa application?

Thanks!
Not sure about the Visa aspects, but regarding the profits of the partnership, even if you do put them back into the business, they will still be taxed under your individual annual tax returns, based on each of your shares of the partnership. It would be classed as your earned income.

That might be an issue if your BVA does not allow working, but if you are allowed to work, then I assume it should not be an issue.
 

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Hello!

I'm in a pretty unique situation where I am currently on Bridging Visa A, awaiting my appeal to go through for a TSS visa under the job of Retail Buyer. A colleague and I want to start a little side business of selling hair accessories. We want to apply for an ABN as a partnership in order to conduct business online and open a separate business bank account. Neither of us will technically be employed by our company as we will not be paying ourselves a salary. All profit earned will be going back into the business.

Does anyone know if this is legal or if this will interfere with my visa application?

Thanks!
I can't comment on the visa aspects, however with a partnership (as JandE said) any net income that the partnership has made is distributed to the partners where they are taxed on their individual returns.

It would be best to speak to a tax agent about which structure is best for your business, I personally would never go into a partnership but that is just me. I would also speak to a registered migration agent if you are allowed to conduct a business under your type.

At the end of the day what the ATO cares about is if you pay the correct amount of tax, where immigration care about if you are meeting your visa conditions.
 
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