Hi,im currently am full time employed an am looking at starting up business up as a partner ship with a name and abn number i was told if i get a business name and a abn number and the hasnt stared up or made any money i would be still taxed on it at tax time any feed back on this ?

Hi Clayton

If you don't make any profits then you wont have to pay any tax. Tax is levied on net income of the business. GST might still be payable depending on what your income and expenses are.

Having said that, the fact that you don't register a business name and/or get an ABN doesn't mean that there would no tax on the income if the business generates income.