We Assist With Sole Trader Tax on the Central Coast

Servicing the Central Coast

Want to know how to become a sole trader and what your tax obligations are? The team at Blue Orchid Accounting is here to help. We work with countless sole traders along the Central Coast, providing professional advice and friendly assistance with all matters relating to tax and accounting.

We offer:

Advice on the most suitable software to maintain your transaction records
Assistance on how to record your periodical transactions when it comes to GST
Advice on the proper set-up & outlay for issuing tax invoices & required components to be included in any bill
If applicable, assistance with your employees’ payroll (wages) & allocation of compulsory superannuation
Advice on purchasing business assets, such as motor vehicles, & correct record-keeping procedures

For a Central Coast accountant you can truly rely on—call on the friendly, trusted team at Blue Orchid Accounting on 1800 008 664.

Comprehensive Taxation Services —

At Blue Orchid Accounting, our friendly team also provides:

Assistance with the basic rules & laws that govern sole traders
Registration as a sole trader for an Australian Business Number (ABN), Goods and Service Tax (GST) & PAYG (Pay As You Go) regime, where applicable
Information on your annual statutory obligations to the Australian Taxation Office & Department of Fair Trading
Guidance on any allowable deductions regarding your work/business & how to claim all eligible expenses
Assistance when selling or deposing of a business asset
Assistance on Capital Gains Tax implications & Small Business Concessions, if applicable
Preparation of Business Activity Statements, including GST reporting (cash/accrual basis), PAYG withholding, & Instalments
Preparation of individual tax returns, including business schedules, investment rental property schedules, etc

For further information on sole trader taxation, get in contact with team at Blue Orchid Accounting and book a consultation with our trusted Central Coast accountant.

Becoming a Sole Trader —

As per the Australian Taxation Office website, as a sole trader, you:

Use your individual tax file number when lodging your income tax return
Report all your income in your individual tax return, using the section for business items to show your business income & expenses
Apply for an ABN & use it for all your business dealings
Register for Goods & Services Tax (GST) if your annual GST turnover is $75,000 or more
Pay tax at the same income tax rates as individual taxpayers, while you may be eligible for the small business tax offset
Put aside money to pay your income tax at the end of the financial year—usually via paying quarterly Pay As You Go (PAYG) instalments
Claim a deduction for personal super contributions you make after notifying your fund

For further information on sole trader taxation on Central Coast, contact Blue Orchid Accounting today.

Our Wide Range of Services —

Since 2011, the team at Blue Orchid Accounting has been working with clients from all walks of life, providing trusted accounting and taxation services on the Central Coast. We work with:

On this website, you’ll also find Useful Links and News Articles on all matters relating to taxation, accounting, and finances; keeping you informed and up to date on all you need to know about your taxes.

We Assist With Sole Trader Tax on the Central Coast

Servicing the Central Coast

Comprehensive Taxation Services —

Becoming a Sole Trader —

Our Wide Range of Services —

Contact our friendly team members today

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