A business is defined as an activity where:
a. goods are sold from a store or online
b. services like lawn mowing are carried out
c. a person sets up an activity to sell goods or services to make a profit
d. two partners set up a business to repair motor vehicles.
ATO School Program
The opportunity to pay income tax in instalments, rather than once per year, was introduced in 1941.
A person who owns and operates a business for themselves.