What Documents Do I Need for My Tax Return? 2026 Checklist
Quick answer
Wondering what documents you need for your tax return? As an Australian sole trader, you’ll need your TFN and ABN, records of all business income, receipts for business expenses, and details of any other income, such as wages or interest. Sole traders don’t lodge a separate business return: your business income and expenses go in your individual tax return. If you lodge yourself, your 2025–26 return is due by 31 October 2026.
Tax time is far less stressful when everything is in one place before you sit down to lodge. This checklist covers every document most Australian sole traders need, what the ATO will pre-fill for you, and the mistakes that cause delays or a nasty bill later.
When is the sole trader tax return due?
If you lodge your own return, the deadline for the 2025–26 income year (1 July 2025 to 30 June 2026) is 31 October 2026. In 2026 that date falls on a Saturday, and when an ATO due date falls on a weekend you can lodge on the next business day.
If you use a registered tax agent, you can usually lodge later than 31 October, but only if you are on the agent’s books before 31 October. If you’re running out of time, contact an agent now rather than after the deadline.
Documents you’ll need
Work through these five groups and tick each item off as you find it.
1. Your personal and business details
- Your tax file number (TFN) and Australian Business Number (ABN)
- Your myGov account, linked to the ATO, if you’re lodging yourself
- Bank account details (BSB and account number) for your refund
- Last year’s notice of assessment, which is useful for checking figures
2. Business income records
- Invoices and sales records for the full year
- Business bank account statements from 1 July 2025 to 30 June 2026
- Payouts from platforms such as Stripe, PayPal, Square, Airtasker or rideshare and delivery apps
- Cash takings, if you accept cash
- Any government grants or payments you received for your business
3. Business expense records
- Receipts and invoices for business purchases, such as stock, materials, tools, software and subscriptions
- Car records: a logbook, or a record of business kilometres if you use the cents per kilometre method (88 cents per km in 2025–26, up to 5,000 km per car)
- Working from home records: a timesheet or diary of actual hours worked from home if you use the fixed rate method (70 cents per hour in 2025–26), plus at least one bill for each running expense it covers, such as internet, phone or electricity
- Invoices for equipment you bought, showing the date it was first used or installed
- Business insurance, bank fees, advertising and last year’s tax agent fees
4. Other income
- Your income statement from any job (available in myGov once your employer marks it “tax ready”)
- Bank interest, dividends and any managed fund distributions
- Rental income and expenses, if you own an investment property
- Records of any shares, crypto or property you sold during the year
5. Tax paid, offsets and other deductions
- Any PAYG instalments you paid during the year
- Your private health insurance statement
- Personal super contributions you plan to claim, plus your fund’s written acknowledgement of your notice of intent to claim
- Receipts for donations of $2 or more to registered charities
Tip: Keep a separate bank account just for your business. It makes finding your income and expenses at tax time much faster, and it gives you clean evidence if the ATO ever asks. Remember to keep your records for 5 years from the date you lodge.
What’s new for sole traders in 2025–26
- $20,000 instant asset write-off. If your business turnover is under $10 million, you can immediately deduct the business-use portion of each eligible asset costing less than $20,000, as long as it was first used or installed ready for use between 1 July 2025 and 30 June 2026.
- ATO interest is no longer deductible. General interest charge (GIC) and shortfall interest charge (SIC) incurred on or after 1 July 2025 can’t be claimed as a deduction.
- More pre-filled data. myTax may pre-fill some payments reported by businesses that paid you, plus government grants and your opening stock. You still need to check every figure against your own records.
How to lodge your return
You have two options:
- Lodge yourself with myTax. Sign in to myGov, open the ATO, and start your 2026 tax return. Check the pre-filled information, add your business income and expenses in the business section, review the estimate, then submit.
- Use a registered tax agent. Send your documents to an agent, who prepares and lodges the return for you. Their fee is tax deductible next year, and you may get a later lodgement date if you sign up before 31 October.
Common mistakes to avoid
- Leaving out platform or cash income. The ATO receives data from many payment platforms and businesses, so missing income is easy for them to spot.
- Claiming the private part of an expense. If you use your phone, car or internet for personal reasons too, only claim the business-use percentage.
- Estimating work-from-home hours. For the fixed rate method you need a record of your actual hours for the whole year. An estimate won’t be accepted.
- Forgetting to set money aside. Sole traders don’t have tax withheld from business income, so the bill can be a surprise. Many put 25–30% of their profit aside as they go.
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Frequently asked questions
Do sole traders lodge a separate business tax return?
No. As a sole trader, you and your business are the same legal entity for tax. You report your business income and expenses in your individual tax return, using the business section in myTax or the business and professional items schedule.
What if my business made a loss this year?
You still need to lodge. Whether you can use the loss to reduce tax on your other income, such as wages, depends on the non-commercial loss rules. If you can’t use it this year, it can usually be carried forward. This is a good time to get advice from a tax agent.
What happens if I lodge after 31 October?
The ATO can charge a failure-to-lodge penalty that increases for every 28 days the return is overdue, plus interest on any tax owing. If you’re going to be late, lodge as soon as possible or register with a tax agent before the deadline.
I lost a receipt. Can I still claim the expense?
You generally need written evidence to claim a business expense. Ask the supplier for a copy of the invoice, or check your email for a digital receipt. A bank statement on its own often doesn’t show what was bought.
This article is general information only, not tax or legal advice. Rates and dates are for the 2025–26 income year. Check ato.gov.au or speak with a registered tax agent about your situation.
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