SKC ACCOUNTING · AUSTRALIA

Sole Trader Tax Returns

When You and Your Business Are Taxed Together

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Australia-wideRemote-first support

Personal supportBuilt around your business

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UNDERSTANDING YOUR BUSINESS

Support that starts with understanding.

If you operate as a sole trader, the business is not a separate company.

Your business income and expenses form part of your individual tax position.

That's why good business records are particularly important.

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Who Is This Service For?

This service may suit:

  • sole traders

  • freelancers

  • consultants

  • contractors

  • mobile service businesses

  • tradespeople

  • self-employed professionals

  • other individuals running businesses in their own name.

What We May Review

Depending on the business, this may include:

  • business income

  • business expenses

  • asset purchases

  • depreciation

  • motor-vehicle information

  • home-office or operating costs where relevant

  • GST-related records

  • capital gains where applicable

  • other information required for your return.

How SKC Accounting Can Help

We can help:

  • review the business records

  • prepare and lodge the tax return

  • identify information that may be missing

  • review relevant business deductions

  • explain the tax position

  • identify record-keeping improvements

  • discuss future tax planning where appropriate.

USEFUL ANSWERS

Common Questions

Should I keep my business transactions separate from my personal spending?

Yes. Keeping business and personal transactions properly separated generally makes bookkeeping, BAS and tax preparation much easier.

Can I claim everything I spend for the business?

Not necessarily. Whether an expense is deductible depends on the nature of the expense and the relevant taxation rules.

Can you help with my BAS as well?

Yes, where this forms part of the services we provide and appropriate authorised arrangements apply.

Sole Traders Often Also Need

Continue Learning

Do I Need to Register for GST?

SKC Accounting

Let’s Talk About Your Business

A useful first conversation starts with what your business does, what is creating pressure and what you would like to improve. Book a Complimentary Initial Consultation to discuss the support that may suit your circumstances.

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