The golden rules to avoid a massive tax bill as a sole trader

Posted on June 22, 2022Categories Advisors, Compliance, Small business

It happens every year. Sole traders around the country tread steadily toward the end of financial year on 1 July, until suddenly, their chest tightens with panic. Hot on their lips is the nail-biting question: what if I don’t have enough coin in the bank to pay my tax bill? Most sole traders will know that they’ll need to file their business tax return to the ATO between 1 July and 31 October. However, unlike regular taxpayers who may receive … Continue reading “The golden rules to avoid a massive tax bill as a sole trader”

Staying sane during tax time

Posted on June 13, 2022Categories Advisors, Compliance, Small business

It’s almost 1 July, you know what that means right? Tax time is looming, and it’s time to finalise your EOFY to hit the ground running. You’ll need to organise tax returns, refresh your business plan, balance your books, do a year in review, consult with your accountant, and ensure absolute compliance with the ATO. But you knew that already. It also means a few metric tons of brow-furrowing pressure and stress. Make no mistake, tax time is stressful, and … Continue reading “Staying sane during tax time”