Tax guide: Filing Your Tax Return
STEP 6 | Small business tax 101
Learn how to manage and pay GST effectively.
Key takeaways:
Checklist for Filing Your Sole Trader Tax Return
Gather all income records, including invoices and sales receipts.
Compile expense records such as receipts for business purchases and operating expenses.
Calculate your total income and deductions accurately to determine taxable income.
Review GST records and ensure BAS filings are up to date.
Consider any industry-specific deductions that may apply to your business.
Link to Start Filing Your Tax Return
Ready to file your tax return? Visit the ATO’s website to lodge your tax return online using myTax: ATO Lodge Your Tax Return Online
Key Tax Terms
Quick guide on essential tax terms and dates...
Step 01Calculating your taxable income
Stay on top of your finances and avoid unexpected tax...
Step 02Claiming Business Expenses
Maximize your deductions to lower your tax bill...
Step 03GST for Sole Traders
Learn how to manage and pay GST effectively....
Step 04Managing BAS & PAYG
Simplify your tax payments throughout the year....
Step 05
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