If you operate your business as a sole trader, you trade on your own and control and manage the business. You are legally responsible for all aspects of the business, including any profits or losses.

As a sole trader, you can use your individual Tax File Number when lodging your income tax return, and you will need to apply for an ABN for all your business dealings.

You’ll need to pay tax at the same income tax rates as individual taxpayers and pay quarterly Pay As You Go (PAYG) installments to pay off your tax throughout the year. We can advise you how to set up your own super arrangements and for any staff you employ.