Tax Time, Sorted. No Surprises.
Know exactly how much you owe the ATO all year round. No nasty shocks, no “tax-time heart attacks.”
For most sole traders, tax is a guessing game until their accountant calls with a bill. Sole changes the game by giving you a live view of your tax obligations every time you send an invoice or snap a receipt.
Live Tax Calculations. Zero Guesswork.
Stop wondering if you’ve saved enough for the taxman. Sole’s intelligent dashboard uses the latest 2025-26 Australian tax rates to keep you informed.
- Live Income Tax View: As you earn, Sole estimates your personal income tax liability (including the Medicare Levy) based on your profit, not just your turnover.
- Instant GST Tracking: If you’re registered for GST, Sole separates the “money that isn’t yours” automatically. See your exact GST liability in real-time so you never spend your BAS money by accident.
See your exact GST liability in real-time so you never spend your BAS money by accident. Effective tradie invoicing ensures these figures are captured correctly from day one.
The “Savings” Target: Sole tells you exactly what to set aside each week, so when the ATO comes knocking, you’ve already got the cash sitting ready.
More Than Just Invoicing.
Building and construction is one of the most heavily regulated industries in Australia. Sole is built to handle the specific reporting requirements that keep your business compliant.
- Taxable Payments Annual Report (TPAR): If you pay sub-contractors for building and construction services, you must lodge a TPAR by August 28th. Sole tracks these payments throughout the year, making it easy to generate the report without a manual audit.
- One-Click BAS Figures: Don’t pay an accountant $200 an hour just to add up your receipts. Sole generates a summary of your GST collected and paid, giving you the exact figures you need for your Business Activity Statement.
- ATO-Compliant Digital Records: Under 2026 digital record-keeping rules, paper is out. Sole stores your receipts and invoices securely for the mandatory 5-year period, ready for any ATO audit.
- Accountant Access: Invite your accountant to your “Command Centre.” They can log in, grab the data they need, and lodge your return in half the time—saving you money on professional fees.
Sole vs. The “Shoebox”
| Feature | The “Shoebox” Method | Sole App |
| Tax Bill Visibility | Once a year (Surprise!) | Every day (Real-time) |
| GST Accuracy | Manual & prone to error | Automatic & exact |
| Audit Protection | Weak (faded receipts) | Strong (cloud-stored images) |
| TPAR Prep Time | Days of digging | Seconds to generate |
| Accountant Fees | High (cleaning up mess) | Lower (clean digital data) |
Frequently Asked Questions
What is the “TPAR” and why do I need to worry about it?
The Taxable Payments Annual Report (TPAR) is a mandatory report for the building and construction industry. If you pay subcontractors for services, you must tell the ATO how much you paid them by August 28th each year. Sole tracks these payments automatically as you pay your subbies, so you can generate the report in seconds rather than digging through a year’s worth of bank statements.
How does Sole calculate my tax if the rates change?
Sole’s dashboard is updated for the 2025–26 financial year, including the fully implemented Stage 3 tax cuts. It calculates your tax based on your net profit (Income minus Expenses) and the current Medicare Levy, not just your total sales. This gives you a much more accurate “savings target” than a flat percentage.
What is the difference between “GST Collected” and “GST Paid”?
- GST Collected: The 10% you add to your invoices. This money belongs to the ATO.
- GST Paid: The 10% GST included in the price of your materials, fuel, and tools. Your BAS (Business Activity Statement) liability is the difference between the two. Sole tracks both in real-time so you know exactly how much of the cash in your bank account is actually yours to spend.
Do I still need an accountant if I use Sole?
While Sole does the “heavy lifting” of organizing your data and calculating your totals, a tax agent is still valuable for final lodging and complex advice. However, by giving your accountant access to your “Clean Digital Data” in Sole, they spend less time fixing your errors and more time finding you extra deductions—which usually results in lower accounting fees for you.
Can I lodge my BAS directly through the app?
Sole provides the exact figures you need for your G1 (Total Sales), 1A (GST on Sales), and 1B (GST on Purchases) labels. You can then easily type these numbers into the ATO’s Online Services (via myGov) or send the report to your tax agent to lodge for you.
What happens if the ATO audits my business?
If you are audited, the ATO will ask for proof of your claims. Since Sole stores digital, high-resolution images of your receipts and a clear trail of every invoice sent for the mandatory 5-year period, you can simply export your records. This “digital paper trail” is significantly more robust and harder for the ATO to dispute than a shoebox of faded receipts.
Why does Sole tell me to save a specific amount each week?
This is your “Tax Buffer.” By setting aside the amount Sole suggests into a separate high-interest account, you are effectively “paying yourself” first and ensuring that when your quarterly BAS or annual tax bill arrives, you have the cash ready. It turns a potential financial crisis into a simple transfer.