ABN and Tax Return A Simple Guide for Sole Traders
When you're a sole trader, your Australian Business Number (ABN) and your personal tax return are closely linked. Any income you earn under that ABN is generally considered business income, which you may need to report on your individual tax return alongside any other income you’ve made. Think of your ABN as the official identifier […]
What Can You Claim on Tax Without Receipts? A Guide on ATO Rules
That sinking feeling when you realise a receipt has gone missing is all too familiar. But don't panic—it doesn't automatically mean you've lost the opportunity to claim a tax deduction. The short answer is yes, it can be possible to claim certain work-related expenses without a classic paper receipt, especially for small amounts where you […]
Self Employed Tax Return A Sole Trader’s Guide
That first leap into self-employment is an incredible feeling. But then tax time rolls around, and lodging your first self employed tax return can feel like hitting a brick wall. If you’re a sole trader in Australia, the process is a world away from a standard employee return. It’s all about business income, allowable deductions, […]
Small Business Tax Deductions in Australia
For many Australian small business owners, understanding small business tax deductions can be key to a healthier cash flow and a stronger bottom line. These aren't just random discounts; they are legitimate business expenses that can reduce your total taxable income, which may mean you owe less to the Australian Taxation Office (ATO) at the […]
