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.
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.
Common Questions
Can't find your question? Email us.
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
What Business Expenses Can I Claim as a Tax Deduction?
Sole Trader vs Company — Which Business Structure Is Right for Me?
When Should I Consider Changing From Sole Trader to a Company?
Do I Need to Register for GST?
Service Delivery Disclosure
SKC Accounting Financial & Advisory Services Pty Ltd trading as SKC Accounting is a licensee of Platinum Accounting Australia Pty Ltd (Platinum). Platinum is a Registered Tax Agent (Tax Agent No. 24683431). Tax agent services, including the preparation, review and lodgement of tax returns, and BAS/GST services requiring registered-agent authority, are provided through Platinum under the applicable engagement arrangements. For more information, please visit Platinum Accounting Australia.
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.