• Home
  • TAX
    • Individual Tax
    • Sole Trader
    • Partnership
    • Company
    • Trust
  • SMSF
  • SMSF AUDIT
  • Contact Us
  • Document Hub
  • News & Insights
  • More
    • Home
    • TAX
      • Individual Tax
      • Sole Trader
      • Partnership
      • Company
      • Trust
    • SMSF
    • SMSF AUDIT
    • Contact Us
    • Document Hub
    • News & Insights
  • Sign In
  • Create Account

  • Bookings
  • My Account
  • Signed in as:

  • filler@godaddy.com


  • Bookings
  • My Account
  • Sign out

Signed in as:

filler@godaddy.com

  • Home
  • TAX
    • Individual Tax
    • Sole Trader
    • Partnership
    • Company
    • Trust
  • SMSF
  • SMSF AUDIT
  • Contact Us
  • Document Hub
  • News & Insights

Account


  • Bookings
  • My Account
  • Sign out


  • Sign In
  • Bookings
  • My Account

FJD Accounting

FJD AccountingFJD AccountingFJD Accounting

SOLE TRADER

You may run your business by yourself, but you don't have to worry about your financial obligations on your own. 

GET STARTED

What is sole trader

A sole trader is an individual running a business. It is the simplest and cheapest business structure.


If you operate your business as a sole trader, you are the only owner and you control and manage the business.


You are legally responsible for all aspects of the business. Debts and losses can't be shared with other individuals.


You can employ workers in your business, but you can’t employ yourself.


As a sole trader, you are responsible for paying your worker's super. You're also responsible for your own super and may choose to pay it into a fund for yourself to help save for your retirement.

Key features

 As a sole trader, you:


  • use your individual tax file number when lodging your income tax return
  • report all your income in your individual tax return, using the section for business items to show your business income and expenses (there is no separate business tax return for sole traders)
  • apply for an ABN and use your ABN for all your business dealings
  • register for Goods and Services Tax (GST) if your annual GST turnover is $75,000 or more
  • pay tax at the same income tax rates as individual taxpayers and you may be eligible for the small business tax offset
  • put aside money to pay your income tax at the end of the financial year - usually, you will do this by paying quarterly Pay As You Go (PAYG) instalments
  • claim a deduction for any personal super contributions you make after notifying your fund.


As a sole trader you can't claim deductions for money 'drawn' from the business. Amounts taken from the business are not wages for tax purposes, even if you think of them as wages.


Our Partners

Downloads

Individual Tax Return Form (docx)Download
Terms of Business (docx)Download

SUBMIT ONLINE

Attach Files
Attachments (0)

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Submit Online

 In order to prepare your personal tax return, we first require some information from you. 


Download, complete and email through our simple to use DOC form available on the personal tax and sole trader pages of our site. 

Not a fan of filling out forms? There is absolutely no need to repeat the information that you know we will already have on file.

Book an appointment & See us in person

TEL: 03 6231 9334 EMAIL : terry@fjdaccounting.com.au ADDRESS: 86 Newdegate St, West Hobart TAS 7000


Copyright © 2025 FJD Accounting - All Rights Reserved.

Powered by

This website uses cookies.

We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.

Accept