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Sole trader and tradie tax return

If you’re a sole trader or tradie business owner, you know that running a business can be a challenge. Managing finances, keeping up with regulations, and staying on top of taxes can take up a lot of time and energy. That’s where we come in – we offer a range of accounting and finance services to make your life easier.

One of the first things you’ll need to do when starting a business is register for an Australian Business Number (ABN). If you’re carrying on a business, you’ll need to report your ABN income in the business schedule in your personal tax return at year-end. You’ll also need to register for Goods and Services Tax (GST) if your annual business income is more than $75,000 and Pay-As-You-Go (PAYG) withholding tax if you have employees.

Here’s how we can help you with your sole trader or tradie business:

  • Apply for ABN and register for GST/PAYG Withholding Tax: We can help you register for an ABN and ensure you’re meeting your tax obligations by registering for GST and PAYG withholding tax if required.

  • Bookkeeping and payroll services: Keeping track of your finances can be a challenge, but we’re here to help. We can provide bookkeeping and payroll services to ensure your finances are up-to-date and accurate.

  • Prepare and lodge business activity statements: We can help you prepare and lodge your business activity statements (BAS) to ensure you’re meeting your GST obligations.

  • Prepare and lodge sole trader tax returns: We can help you prepare and lodge your sole trader tax returns to ensure you’re meeting your tax obligations and getting the deductions you’re entitled to.

  • Tax planning for your business: We can help you plan ahead and minimize your tax liability for the year.

  • Apply for business finance: If you need finance for your business, we can help you apply for loans or other forms of funding.

  • Apply for any business grants or incentives: We can help you apply for any business grants or incentives that you may be eligible for.

  • Change your business structure: If you’re thinking of changing your business structure, we can provide advice and assistance to make the transition smooth.

  • Personal service income advice: We can provide advice on personal service income (PSI) and ensure you’re meeting your tax obligations.

  • Superannuation taxation advice: We can provide advice on superannuation and ensure you’re meeting your obligations as an employer.

  • Cash flow analysis: We can help you analyze your cash flow and identify ways to improve your financial position.

We understand that sole traders and tradies are busy people who need hands-on help and support for their businesses. That’s why we have a team of dedicated accountants and finance brokers who can make your life much easier. If you have any questions or need assistance with your sole trader business, please feel free to contact us.

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