Lodging your own tax return? The deadline is 31 October. See the document checklist →
Guides for sole traders and side hustlers: how to get an ABN, how much tax to set aside, what you can claim, and when it might be time to move to a company.
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 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…
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