Question: Liam occasionally buys and sells things on eBay. He doesn't like using his personal details on the internet so he set up a company, LM

  1. Liam occasionally buys and sells things on eBay. He doesn't like using his personal details on the internet so he set up a company, LM Pty Ltd, with its own bank account to use for his online activities.

    Liam is carrying on a business for tax purposes because he has set up the company LM Pty Ltd.

    True

    False

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