Lodging your own tax return? The deadline is 31 October. See the document checklist →
Quick answer As a sole trader you can lodge your BAS yourself through myGov: link your myGov account to the ATO, open ATO online services, find your BAS under “Lodgments”, work through each label from your records, review and submit. It takes most sole…
Quick answer You deregister a company by lodging ASIC Form 6010 (application for voluntary deregistration), which costs about $52. First check you qualify: all shareholders must agree, the company must have stopped trading, hold assets under $1,000, owe no debts and be up to…
Quick answer Your TFN is your personal tax identity with the ATO — an 8 or 9 digit number every individual who earns income needs. Your ABN is an 11 digit number that identifies your business — you need one if you’re carrying on…
Quick answer If your company lodges its own 2025–26 tax return, the due date is 28 February 2027. If a registered tax agent lodges it for you under the ATO’s lodgment program, you generally get until 15 May 2027. Lodge late and the failure-to-lodge…
Quick answer Applying for an ABN is free. Sole traders apply online through the Australian Business Register at abr.gov.au. You’ll need your tax file number, personal details and a description of your business. Many applicants get their ABN straight away, while others are reviewed…
Quick answer To close a business in Australia, lodge your final BAS and tax return, cancel your GST registration within 21 days and your ABN within 28 days of stopping, pay final wages and super, cancel your business name, licences and contracts, and keep…
Quick answer You must register for GST when your business’s annual GST turnover reaches, or is expected to reach, $75,000. You have 21 days to register once you know you’ll pass the threshold. Taxi and rideshare drivers must register from their first fare, regardless…
Updated for 2026 · Prices change often, so check each provider’s website before you buy. Quick answer For most Australian small businesses, Xero is the easiest all-rounder, with strong bank feeds and payroll included in every plan. MYOB suits businesses with complex inventory or that want a desktop option. QuickBooks is a good-value choice, especially…
Quick answer You can close a company through voluntary deregistration if all shareholders agree, the company has stopped trading, has assets worth less than $1,000, owes no debts, isn’t involved in legal proceedings and has paid all ASIC fees. If the company has debts…
Quick answer Most sole traders should set aside 20–30% of their profit for tax. The right amount depends on your total income. With 2026–27 rates, a sole trader with $60,000 profit and no other income pays about 16% in tax and Medicare levy, while…
We use cookies to improve your experience and analyse site traffic. See our Privacy Policy.