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by happynick » Mon Mar 12, 2018 4:26 pm
Thanks for your reply
can use some portion of 200K deposit in the business bank for getting interest? (Besides the actual business)....is it in the point (4) as below?
Sorry that as I found the guideline online but not pretty understand
Below is the guideline of using the funds.
(ii) ‘Invested’ means that the funds have been invested into a business or businesses which the applicant is running as self-employed or as a director or member of a partnership. ‘Invested’ or ‘spent’ excludes spending on:
(1) the applicant’s own remuneration,
(2) buying any business from a previous owner, where the money ultimately goes to that previous owner (irrespective of whether it is received or held directly or indirectly by that previous owner) rather than into the business being purchased (This applies regardless of whether the money is channelled through the business en route to the previous owner, for example by means of the applicant or business purchasing ‘goodwill’ or other assets which were previously part of the business.),
(3) investing in businesses, other than those which the applicant is running as self-employed or as a director, and
(4) any spending which is not directly for the purpose of establishing or running the applicant’s own business or businesses.
Please help!
Thanks!
Cheers
