Sole Traders and Consultants

Individuals who operate a business, be they trading or in services, are subject to their own set of rules. For instance, did you know:

  • Many deductions which you would normally considered to be allowable are not?
  • Some deductions must be calculated in special way?
  • There is much more substantiation involved?
  • There is a risk that people who operate their personal business through a company will be taxed personally instead?
  • If you are GST registered, only the GST on expenses relating to your business can be claimed?
  • The ATO is cracking down on loss making businesses and doing more data matching?

You should seek advice on how your current business or next venture will be treated tax-wsie. We are here to help by accurately preparing your annual obligations, other compliance work, bookkeping and most importantly provide certainty on your business tax result. Contact us to find out more.