Trading a business as a sole trader is the simplest form of business structure. As a sole trader, you’ll own and manage your business with your own Australian Business Number (ABN), but you are personally responsible for your business taxes, debts and liabilities. You must report all of your business income using your Tax File Number (TFN) and pay income tax on your combined personal and business income with Pay-As-You-Go (PAYG) instalments. But to lodge the sole trader income tax return on your own may be creating a problem for yours but if you have an experienced tax accountant so you have the support from someone who can still manage all of your accounts and their related details and update from the changes.
Always trade safe!It is safer when you trade locally, you see the goods before paying. Avoid using payment / transfer methods such as Western Union, this is the same as sending cash to someone. If you do not trade locally use a service such as PayPal, this can offer you some protection, see PayPal.com.au for terms. See our help/FAQ section for more info
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Hire your personal tax accountants in Perth & get aware of the legal implications of filing your individual tax return. The experts of a tax accountant in Perth will guide you & help you in submitting appropriate claims with regards to all available deductions. Fill your personal tax return with the help of the...
Are you looking for a tax accountant in Sydney? Contact Mannion’s Business Services. Our expert tax accountant in Sydney all have many years of experience guiding our clients achieve the best tax outcomes possible. We take a proactive approach to tax planning to make sure your business runs smoothly. Learn more
