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ChezL's avatar
ChezL
Contributing User
3 months ago
Solved

Second Job

Hi

 

We have a partnership in the Engineering field; my husband has got his cert III in Group Fitness Training and is employed by another company doing a few shifts. Does the income he receives from that company have to be recorded in MYOB for our partnership or is it separate.

 

Thanks

Chez

  • Genreve_S's avatar
    Genreve_S
    3 months ago

    Hi ChezL,

     

    It kinda depends, but as a rule of thumb, if your partnership’s in engineering and your husband’s second job is separate (group fitness and employed by another company), keep it out of the partnership books. Just record the income and expenses for the engineering partnership in MYOB. Best to double-check with your accountant or tax adviser to be safe.

     

    Regards,
    Genreve

2 Replies

  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator
    3 months ago

    Hi ChezL,

     

    It kinda depends, but as a rule of thumb, if your partnership’s in engineering and your husband’s second job is separate (group fitness and employed by another company), keep it out of the partnership books. Just record the income and expenses for the engineering partnership in MYOB. Best to double-check with your accountant or tax adviser to be safe.

     

    Regards,
    Genreve

  • ChezL's avatar
    ChezL
    Contributing User
    3 months ago

    Hi Genreve_S​ 

     

    Thank you for getting back to me, I figured that would be how it should be done. I will check with accountant anyway. Just another question he contracted for a short time using our Partnership ABN at Anytime Fitness how and where would that income be allocated.

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