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Jessica
Consultant
John Melis, Expert
When you set up your company, you will be a director and a shareholder. The company will then have a contract with the government. Then you will pay tax at the company rate. It’s a flat base tax rate. On the ATO website they have all details about the tax rates so you can review them. The company structure can be set up very quickly. You can use clear docs as the company to set it up.
John Melis, Expert
Thank you for your follow-up. You will need to set up a company account. And then you can pay yourself out of the company a director fees.
John Melis, Expert
You can decide what directors fee that you pay. It can be $5000 you can be $100,000 it just depends on how much money you got in the company.
John Melis, Expert
John Melis, Expert
As long as you disclose the interest to the government and they confirm in writing they have no issue, and you have no problem.
John Melis, Expert