Sole Trader Accounting

TSG offers flexible accounting for sole traders and have very simple pricing to help with applicable returns.

Accounting for Sole Trader

The accounting for sole trader has very similar rules for taxable income as other categories and the taxable income is calculated by subtracting business exepenses from the income annually. A businesses operating as sole trader does not necessarily has to register for Goods & Services Tax (GST) and pay GST, particularly if the annual income is less than AUD 75,000. However, if you drive taxi of any type such as Uber, Ola, Silver Top, 13 Cabs etc, you must register for GST. As such, if a sole trader needs to pay GST, he is also required to complete and lodge a quarterly BAS (Business Activity Statement) to the Australian Tax Office (ATO) with details of earnings and business expenses.

We help sole traders with these services:

GST Returns
Quarterly BAS
Income Tax Return
Van / Car/ Truck Loan

Services We Offer

Bookkeeping

Payroll / STP

IAS Returns

BAS Returns

PAYG Returns

Loans

Budget Planning

CGT Returns

Company Registration

Fringe Benefit Returns

We offer a simplified accounting service for sole traders to help in recordkeeping and proper taxtaion while ensuring compliance with the latest taxation laws.