Sole trader tax returns

If you are a sole trader and receive ABN income, you have to lodge your tax return with ATO every year.

Please note you can not lodge a return not necessary if your income is less than the tax-free threshold or you operate your business at losses.

Sole trader tax return form is same as the other individual tax return but you need to report the following:

  • the supplementary section
  • business and professional items schedule

The tax rates for sole trader income is same as individual tax payers. However you may be eligible form the small business tax offset that can reduce your tax payable amounts.

Why should I use Gavin Ma & Co’s services to prepare my sole trader tax return?

Sole trader return is a business tax return that should be prepared by experienced business accountants, such as  Gavin Ma & Co Accountants.

  • we try our best to achieve the best results for you
  • we give you specific and detailed advice on how to keep your business record
  • we provide advice when you should change your business structure from a sole trader to a company or trust
  • we help you claim all the legitimate expenses, such us concessional contributions, home office and motor vehicle expenses etc
  • we will minimize your capital gain tax when you sell you sole trader business