Sole Trader

Understand the registrations a sole trader may need, including an ABN, business name, GST and PAYG withholding.

Understand how sole trader and contractor status differ, and why worker classification matters for tax and super.

Understand super obligations for sole traders themselves and for workers they employ or engage.

Understand how sole traders report business income and expenses in their individual tax return.

Understand what personal services income (PSI) is, when the PSI rules may apply, and why it matters for sole traders.

Understand when start-up costs may be immediately deductible and when other tax treatment may apply.

Understand how non-commercial loss rules can affect whether a sole trader business loss is offset or deferred.

Understand when a sole trader must charge GST and when to use a tax invoice or standard invoice.

Understand which business and income-protection insurance premiums may be deductible for a sole trader.

Understand the tax, liability and compliance factors to consider before changing from sole trader to company.

Understand how taking money from a sole trader business differs from paying wages or dividends.

Learn what tax, payroll and super obligations may arise when a sole trader hires employees or other workers.

Understand when a sole trader may need to lodge a business activity statement and what the ATO says about BAS obligations.

Compare sole trader and company tax treatment in plain English using official ATO guidance.

Understand when a sole trader may need to register for GST and what the ATO says about GST registration.

Learn what business deductions sole traders may be able to claim and what the ATO says about claiming expenses.

Understand what records sole traders should keep for income, deductions, GST, and tax return purposes.

Learn how PAYG instalments may apply to sole traders and what the ATO says about prepaying tax on business income.

Learn when sole traders may be able to claim motor vehicle expenses and what records the ATO expects.

Understand when sole traders may be able to claim home-based business expenses and what the ATO says about running a business from home.

Find out whether sole traders need a separate business bank account and why the ATO suggests it can help with record keeping.

Understand the main tax obligations sole traders may need to consider, including income tax, GST, PAYG instalments, deductions, and records.

Learn how sole trader income is taxed in Australia, how it is reported, and what the ATO says about sole trader tax obligations.

Find out when a sole trader may need an ABN and what the ATO says about business registrations.