Startup Question

[broadone]

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[dunkyd]

Hopefully from profits ? Depends if he's greedy or not.............

 

[Idiosyncratic]

How does a director of a startup pty ltd company get paid, and how is the salary determined?

Dividends, or if you're working for the company full-time then a salary (determined by yourself in all likelihood)?
If it's a conventional startup (don't miss the adjective here), then kiss getting paid for the first 2 years goodbye. There's a 98% chance of failure - you don't want to be part of the problem by draining your company before it's mature.

 

[Greg C]

Dividends, or if you're working for the company full-time then a salary (determined by yourself in all likelihood)?
If it's a conventional startup (don't miss the adjective here), then kiss getting paid for the first 2 years goodbye. There's a 98% chance of failure - you don't want to be part of the problem by draining your company before it's mature.

Fact again well answered. Dont drain your company of capital. Leave for retained earnings and reinvestment. If you must declare dividends. If you are one of those individuals relying heavily on your business and no other sources of income, as per a previous post, the income you receive will need to be declared for 2 provision and 1 income tax assessment. This assessment you can use to prove income rather than fighting with financial institutions.

 

[The Flight Guru]

Blood, sweat an tears. If you work hard your efforts will be rewarded. It will take statistically 3 years before your company will turn a profit, if you last that long. thereafter you can draw dividends above you salary. Don't expect to open the doors and be blessed with millions.