Our blog is where we share tips, guides, and insights to help freelancers and small business owners manage expenses, stay tax-ready, and grow their business.
Cash accounting records income when the money lands; accrual records it when you earn it. Australian businesses make this choice twice, once for income tax and once for GST. Here is how each method works, the $10 million line, and how to pick the one that fits.
A sole trader must register for GST once GST turnover reaches $75,000. Here is how the ATO's current and projected turnover tests work, the 21-day deadline to register, the special thresholds for non-profits and rideshare drivers, and what it costs if you register late.
A Business Activity Statement is the form a GST-registered business uses to report GST, PAYG withholding and PAYG instalments to the ATO on one document. Here is what each label means, who has to lodge, the difference between a BAS and an IAS, and how to lodge yours.
The $18,200 tax-free threshold looks simple, but a second job, a side business or a part-year move can turn it into a surprise tax bill. The five mistakes the ATO sees most, each corrected against the current rules, with a situation-by-situation table.
A valid tax invoice needs seven details for sales under $1,000, and the buyer's identity once a sale reaches $1,000. Here is what must appear on the document, when you must issue one, and what you need on the invoices you receive to claim GST credits.
How much tax does a sole trader pay in Australia? A plain-English guide to the 2025-26 individual income tax rates, the Medicare levy, the small business income tax offset, and PAYG instalments, with a full worked example.
A profit and loss statement lists your sales and expenses and works out your profit. Here is how to build one line by line, why your figures should be GST-exclusive, and how the bottom line feeds your ATO tax return, a Centrelink claim, or a loan.
How PAYG instalments work for Australian sole traders: who the ATO enters, the instalment amount versus instalment rate methods, the quarterly due dates, how to vary safely under the 85% rule, and how what you pay credits against your final tax bill.
As a sole trader your business profit is taxed at your personal marginal rates; a base rate company pays a flat 25%. Here is the tax maths, the setup and running costs, and the profit level where switching to a company starts to pay off.
The ATO logbook method claims a business-use percentage of your actual car costs, with no 5,000 km cap. How to keep a valid 12-week logbook, claim depreciation under the car limit, and avoid the errors that get claims disallowed.
An ABN identifies any business and is issued by the ATO; an ACN identifies a company and is issued by ASIC. Sole traders need only an ABN, companies need both. Here is how the two numbers connect and which your business needs.
The 2026 tax return deadline is 31 October for self-lodgers. Every key ATO date for individuals and sole traders, the tax agent extension to 15 May 2027, and what a late return or payment costs.
