Sole Trader
Tax Return Services
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A Sole Trader Tax Return is how you report all the income from your business to the Australian Taxation Office. Whether you’re a tradesperson, freelancer, consultant, or small business owner, this service helps you lodge your annual tax return on time and correctly. As a Sole Trader, you operate your business with full control and responsibility. Your business income is reported on your individual tax return, alongside any other income, wages, salary, or rental property earnings you may have during the financial year. We help you bring together your financial records, claim tax deductible expenses, and lodge your return in a way that aligns with ATO requirements.
Why Choose ACT Tax Group for Sole Trader Tax Return
Maximise Tax Efficiency
By reviewing all your business expenses and deductions, we help you claim everything you're entitled to and reduce the amount of business tax you pay. This means keeping more of your money and getting the best possible refund.
Tax Minimisation Strategy
We work with you to implement a practical approach to reporting your business income, business profits, and deductions in a way that reduces your overall tax burden. Any refund you're eligible for is identified and processed, and we assist with details that most Australians miss.
Asset
Protection
Using a sole trader structure with separate business bank accounts and clear financial records helps keep your personal assets separate from your business. This provides clarity and protection while you operate with full control of your business.
Simplified Reporting
As a sole trader, you lodge one individual tax return with your business income and business profits included. This is the cheapest and least complicated business structure, with fewer reporting requirements than companies or partnerships.
Why Set Up Your Sole Trader Tax Return With Us?
Whether you operate full-time or run a small side business, lodging a tax return every financial year is required by the ATO. A sole trader tax return service is ideal for you if you:
- Want to lodge your tax return online with professional assistance and support by phone
- Need help identifying and claiming tax deductible expenses to reduce your business tax
- Operate a business as the sole owner and want complete control over your business decisions and assets
- Have business income and other income that needs to be reported together
- Want to understand your tax liability, possible tax refund, and what you owe
Unlike more complex business structures or companies, sole trader tax return services are straightforward and designed for most Australians running their own business. The process requires fewer reporting requirements, and you keep your money separate from any business accounts with clarity and simplicity.
Set Up Your Sole Trader Tax Return Today
Benefits of Our Sole Trader Tax Return Services
Accurate Lodgement
Your annual tax return is prepared and submitted accurately within the required timeframes. We help you lodge online and ensure all business income, business profits, wages, salary, and other income are reported correctly. This means meeting ATO deadlines and avoiding delays or penalties.
Low-Cost Structure
A sole trader is the lowest cost business structure available. You have fewer reporting requirements compared to companies or partnerships, which means less paperwork, fewer fees, and complete control over your business decisions and assets. It’s the straightforward choice for most Australians operating their own business.
Maximise Eligible Deductions
We review your financial records and bookkeeping to identify all tax-deductible expenses you can claim. This includes business assets, equipment, travel, office supplies, and other costs related to your service. By claiming everything you’re entitled to, you reduce your business tax and increase your possible tax refund.
Protect Your Assets Today
Optimising the Sole Trader Tax Return Structure
To get the most from your sole trader tax return service, we help you maintain organised financial records throughout the financial year. We review your business income and business profits, assist with bookkeeping practices, and ensure all your expenses are documented and tax deductible. We also provide guidance on keeping a separate business bank account, managing assets and business decisions, and understanding capital gains tax if you sell business assets. Regular contact by phone or online support keeps you informed of changes to your obligations and ensures your assessment is complete and accurate.
What to Do Next
To get started, book a complimentary consultation with ACT Tax Group for free tax help. During your consultation, your business will be discussed, your situation reviewed, and the way the service works for you will be clearly explained. Once you’re ready, prepare your records by collecting all financial records for the financial year. This includes income statements, details of business income and business profits, wages or salary information, rental property details, and a list of business expenses and assets. When everything is in order, ACT Tax Group will prepare your sole trader tax return and lodge it online on your behalf. You’ll receive support every step of the way, either by phone or online, ensuring the process is complete, accurate, and meets ATO requirements. Guidance will also be provided to help you understand your tax liability and any possible tax refund.Tax
Frequently Asked Questions
What is a sole trader tax return and how does it work?
A sole trader tax return is an individual tax return where you report all your business income and business profits on a dedicated section, along with your other income, wages, salary, and rental property earnings. You lodge one return that covers everything, rather than having separate business filings like companies do. This makes the process straightforward and keeps your reporting simple.
Can I claim business expenses as a sole trader?
Yes. You can claim tax deductible expenses that are directly related to your business. This includes costs for business assets, equipment, travel, office supplies, phone, utilities, wages for any employees you employ, bookkeeping fees, and professional services. To claim these expenses, you need to keep financial records and details showing how they relate to your business income. We assist you in identifying and organising these claims.
When do I need to register for GST as a sole trader?
You must register for GST when your annual turnover reaches $75,000 or more, or if you provide certain services such as ride-sourcing work, regardless of your business turnover. Once registered, you lodge GST returns and manage your GST obligations. We provide support and guidance on GST registration, lodging, and compliance throughout the financial year.
What is unlimited liability and how does it affect me as a sole trader?
As a sole trader, you are responsible for business debts or legal matters. This is not the case for companies, which can keep personal assets protected. Keeping a separate business bank account, organised financial records, and separating your personal assets from your business can help manage your responsibilities.
Important Disclaimer
The information contained on this website is provided for general use only. It has been prepared without consideration of any individual’s personal objectives, financial situation, or needs. Any reliance placed on the material is at the reader’s own risk.
Nothing on this website should be taken as taxation, accounting, or legal advice. ACT Tax Group Pty Ltd, its directors, and employees expressly disclaim all liability for any loss, damage, cost, or expense incurred by any person who relies, wholly or partly, on the information provided.
Tax legislation, rulings, and regulatory requirements may change at any time, and their application will vary depending on specific circumstances. You should seek independent, professional advice from a registered tax agent or qualified adviser before making decisions based on this information.
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