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Company or Business

Business income if an individual is self-employed

If an individual is self-employed and receives income from their business, then you can enter their income at the Cash flows & Goals step with the type=Business:

  • The 'Amount' should be before tax (gross) and should include any personal deductible super contributions

  • 'Business' income is not automatically stopped at retirement, so you will need to do this manually with the 'Customise' button. For more, see How to stop a value in the series builder

  • 'Business' income is taxed at personal tax rates, for more information.

For more details, see Income.

Modelling a company as an entity

If you would like to model a company as an entity within the case, you cannot do this in in the websolve, however, some limited modelling is available in the Optimo Financial SDS. To find out if your case is in scope, please Contact Optimo Financial.

If your case is in scope, then you can supply the company information by email us or by entering the Company details under a Trust, and we will convert it to a company for you.

Within the SDS, it may be possible for Pathfinder to model the following, however we will need to check the full details of your specific case and requirements to confirm it is completely within scope:

  • The Company can be owned by individuals, trusts, other companies

  • Income can be held or distributed:

    • Retained income in the company is taxed at 30% (or less if the company qualifies for a lower tax rate)

    • Income paid as dividends is taxed at the marginal tax rate of the person receiving the dividend (ie. it effectively assumes 100% franking)

  • The company can hold these assets:

    • Property

    • Cash

    • Shares/managed fund

    • Fixed interest

  • The company can hold secured and unsecured loans

  • Pathfinder applies the Company tax rates

  • Limited lending between companies, Trusts and individuals

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