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Sole Trader Tax Returns

We will treat your sole trader business as if it were our own and help save on taxes at every turn.

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Some facts about sole trader tax returns

  • A sole trader is a type of business structure in which a person operates a business as an individual rather than as a company.
  • Sole traders are required to file an annual tax return with the Australian Taxation Office (ATO) to report their income and expenses from their business.
  • Sole traders are taxed at the individual tax rate, which is based on their total income from all sources
  • Sole traders are generally required to report their income and expenses on the cash basis
  • Sole traders are also required to report any goods and services tax (GST) that they collect from their customers on a business activity statement (BAS)

Why choose CTK Accounting when it comes to Sole Trader Tax Returns

CTK Accounting has a streamlined lodging process for our sole trader clients which is predominantly digital and can be done face to face, over video call or phone call.

Our process involves:

  • Collecting and organizing all financial records and documentation that are relevant to your sole trader's business
  • Calculating business income and expenses according to Australian tax law
  • Using the business income and expenses to calculate your tax liability, taking into account any applicable tax deductions or offsets
  • Review and submit the tax return

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