A sole trader is an individual running a business. It is the simplest and cheapest business structure.
If you operate your business as a sole trader, you are the only owner and you control and manage the business.
You are legally responsible for all aspects of the business.
If your turnover more than AUD$75,000, You must register for GST
If your turnover less than AUD$75,000, you can choose to register GST OR not register GST
You must register for PAYG withholding if you need to withhold an amount from a payment make to your employees
You may need to lodge a Taxable payments annual report (TPAR) by 28 August each year if you are a:
Contractors can include subcontractors, consultants and independent contractors. They can be operating as sole traders (individuals), companies, partnerships or trusts.
We will help you to lodge Taxable payments annual report (TPAR) by review The details of each contractor are generally found on the invoice your business received from them. This includes: