Accountants for Sole Traders

As a sole trader your business and your tax are the same return – so the deductions, the GST and the timing all matter more than people think. We keep it simple, lodge on time, and tell you honestly when it’s worth changing structure.

Book a Chat Call (07) 5593 6060

How we help — at a glance

What we take care of for sole traders, freelancers and contractors:

Your individual tax return — business and personal, done together
Every deduction you’re entitled to — nothing left on the table
GST registration & BAS — once you cross the $75,000 threshold
PAYG instalments — so the tax bill never lands all at once
Bookkeeping & records — simple, current, audit-ready
When-to-restructure advice — honest guidance on going company

Book a chat   (07) 5593 6060

Why being a sole trader changes the accounting

Operating as a sole trader is the simplest way to run a business in Australia – one ABN, one tax return, no separate company to file for. That simplicity is exactly why most people start here. But “simple” doesn’t mean “nothing to get right”: because your business income and your personal income are taxed as one, every deduction you miss and every dollar of timing you get wrong comes straight off your own bottom line.

The other thing about being a sole trader is that there’s no safety net between the business and you. The income is taxed at your personal rates, the debts are your debts, and the assets at risk are your assets. For a lot of people that’s perfectly fine for a long time – but there’s usually a point where a company or trust starts to make sense, for tax, for protection, or both. Knowing where that point is, and not crossing it years too late, is a big part of what a good accountant does for a sole trader.

What matters most as a sole trader

  1. Deductions. Your tax is your business’s profit taxed at your personal rates, so every legitimate deduction matters. Vehicle and travel, tools and equipment, home-office running costs, phone and internet, insurance, subscriptions – we ask the questions that surface what you’re actually entitled to, and keep it substantiated.
  2. GST and the $75,000 line. Once your turnover reaches $75,000 you must register for GST and start lodging a BAS. We watch the threshold with you, register at the right time, and handle the BAS so it’s never a surprise.
  3. PAYG instalments. Once you’re making a profit, the ATO asks you to pre-pay your tax in instalments rather than in one hit. We set these at a sensible level so cashflow stays smooth.
  4. Super for yourself. Sole traders don’t pay themselves super automatically – it’s optional and, done right, deductible. We’ll show you whether and how much makes sense.
  5. Records. You don’t need a complicated system, but you do need a consistent one. We set you up so tax time is a half-hour, not a weekend.
  6. When to become a company. The setup that suits a $60k side business is usually wrong for a $250k full-time one. We’ll tell you when the tax saving or the asset protection is worth the extra cost – not before.

How we help sole traders

Tax returns

Your individual return prepared to capture every deduction, lodged on time, with prior-year catch-ups if you’re behind.

GST & BAS

Registration at the right time and BAS prepared and lodged, so GST never becomes a scramble.

Bookkeeping

A simple, current system in Xero or MYOB – or a tidy-up of what you’ve got – so the numbers are always there.

Structure advice

Honest guidance on whether and when to move from sole trader to a company or trust.

We keep it simple, and lodged on time

Most sole traders don’t want a finance department – they want it handled. We keep your return and any BAS straightforward and on time, claim everything you’re entitled to, and stay reachable when a quick question comes up.

We’ll tell you when to change structure

The single most valuable thing we do for growing sole traders is flag the moment a company or trust starts to pay for itself – in tax saved or risk reduced. We’ll show you the numbers and let you decide, rather than pushing a structure you don’t need yet.

Who we work with

Tradies and contractors. Often the first visit is a shoebox of receipts and a feeling of paying too much tax. Sorting that out is satisfying, and usually well worth it.

Freelancers and consultants. Designers, writers, developers and consultants invoicing clients directly, who want the tax side simple and right.

Side businesses going full-time. People whose side income is becoming the main income, where GST, instalments and structure suddenly matter.

Gig and online earners. Income from platforms and apps that the ATO can see – we make sure it’s declared correctly and the deductions are claimed.

How we work with you

1

Chat

A free chat about your work, your income and where you’d like to be.

2

Review

We look at your deductions, GST position and records, and tell you honestly what we find.

3

Fixed-fee proposal

A clear, fixed fee agreed up front – no surprise invoice.

4

Deliver & check in

Your return and any BAS handled on time, and a heads-up when it’s worth changing structure.

Questions sole traders ask us

Do I need to register for GST?
Once your turnover reaches $75,000 a year, yes. Below that it’s optional. We’ll watch the threshold and register you at the right time.
What can I claim as a sole trader?
Anything genuinely incurred in earning your income – vehicle, tools, home office, phone, insurance and more. We ask the right questions so you don’t miss deductions.
When should I become a company?
When the tax saving or asset protection outweighs the extra cost and admin – usually as income and risk grow. We’ll tell you honestly when you’re there.
Do I have to pay myself super?
No, it’s not compulsory for sole traders – but contributions can be tax-deductible and worth making. We’ll show you what makes sense.
I’m behind on my tax returns – can you help?
Yes – catching up overdue returns is a normal first step, and you may even be owed refunds you never claimed.

Guides & resources

Plain-English help, written by our team.

General information only – not financial or legal advice. Thresholds and tax rules change; confirm current requirements or speak to us before acting on anything you read here.

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