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Sole Trader Tax Return Online
Are you looking for cheap sole trader tax returns? Taxopia is a professional but affordable solution to comply with annual tax and accounting lodgements!
Taxopia is Australian owned and based in Melbourne. We use state of the art solutions to ensure your sensitive company or trust tax information are kept safe and confidential. We minimise other costs through streamlined work procedures allowing us to provide you with cheap sole trader tax returns. Rest assured, at Taxopia cheap does not equate to low service or less qualified business tax accountants.
We can complete and lodge all of your annual business accounting and business tax return reporting, and even offer quarterly BAS solutions as well. Our extensive expertise allows us to provide more complex business tax advice for your sole trader business if required.
Learn more about sole traders here.
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Sole Trader Tax Return
- $480exc gst
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- Includes Tax Return Prepared & Lodged
- Preparation of full Financial Statements (bank use)
- Max business turnover $1M/year
- Record keeping criteria apply
- Dedicated Accountant Tax Adviser support
- *See conditions here
Other Individual Tax Returns, starting from:
- $99inc gst
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- Basic Individual Tax Return from $99 inc GST
- Basic Individual Tax Return with Rental Property or Small Business (no financial reports) from $199 inc GST
Google Reviews
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Very responsive and exceptional service. Cost effective and efficient business model. You can't buy better! Wendy Asmussen
10/29/2020 - Have saved our business a fortune in accounting and very easy to deal with. This is our 3rd or 4th year with them.
Carly A
10/23/2020 -
Very impressed with Taxopia's service. They were very quick to respond and once all information was provided my Tax Return was processed within a week! Takes the stress out of tax time and will definitely be using their services again next year. Thank you! 
Jess Dametto
10/15/2020 - I've been consistently impressed by Taxopia. They make trust and company tax return preparation simple, easy and cost effective. I have no hesitation recommending them.
Katherine Todd
8/19/2020 - Great service, we would recommend it.
Well priced as well
Dinu Stamatescu
8/15/2020 - I have a simple set of accounts, Taxopia has got my work done efficiently and effectively and didn't cost a bomb.
I would highly recommend.
Mike Filmalter
8/03/2020 - User friendly, quick turnaround time and great value.
Natalija Trailovic
7/24/2020 - An excellent service with prompt time manor. All staff responded quickly, work was done on time and every email was with clear instructions and friendly touch. If you seek for an affordable professional service, Taxopia is the one I highly recommend!
Yukiko Shimizu
2/19/2020
Sole Traders
Being the simplest and cheapest business structure, a sole trader is an individual running a business. As a sole trader, you are the owner and you control and manage the business. Legally, as a sole trader, you are responsible for all aspects of the business, including its debts and losses.
Here are the key characteristics of a sole trader:
- Simple to set up and operate
- It gives you full control of your assets and business decisions
- Requires fewer reporting requirements and is generally a low-cost structure
- Allows you to use your individual tax file number (TFN) to lodge tax returns
- It doesn’t require a separate business bank account, although this is recommended to make it easier to keep track of your business income and expenses
- Requires you to keep financial records for at least five years
- Has unlimited liability, and all your personal assets are at risk if things go wrong
- It doesn’t allow you to split business profits or losses made with family members
- It makes you personally liable to pay tax on all the income derived
Under this business structure, you can employ people to assist in your business, but you must be aware of the legal obligations associated with hiring employees, such as:
Tax requirements
As a sole trader, you declare your business income or loss as part of your personal income tax return and you are taxed at the same rate as an individual.
You will also need to register your business for goods and services tax (GST) if your annual turnover is estimated to be over $75,000.
You may also be required to start paying pay-as-you-go (PAYG) instalments as advised by the ATO. These instalments are pre-payments of your tax for the following year, and these tax credits will be credited against your next income tax assessment.
Business Name
As a sole trader, you either use your own name or register for a business name with the Australian Securities and Investment Commission. To more information and to register for a business name, click here: https://asic.gov.au/for-business/registering-a-business-name/