Tax and Accounting Services For Sole Traders
Whether you’re just starting out as a solopreneur, considering the next stage of growth, or thinking about restructuring your business, we are here to guide you and provide the support you need every step of the way.
Our services are tailored for individuals whose primary income comes from running their business as a sole trader or from a combination of employment and ABN income. We always focus on proactive planning to ensure you’re fully prepared for tax time, helping you avoid any unpleasant surprises or unexpectedly large tax bills.
Would you like a quick chat to see how we can help your business? – Contact us today for a price and more information.
Our services for solo traders include:
GST Registration and reporting
• We help you figure out if you need to register for GST—it’s mandatory if your turnover exceeds $75,000 or if you provide taxi or limousine travel (including ride-sourcing services like Uber or DiDi) regardless of your GST turnover)
• We take care of your BAS (Business Activity Statement) preparation and lodgment, so you stay compliant.
• You will get expert advice on how to claim GST credits on your business expenses
Bookkeeping and Financial records
• We will help you chose and set up the most suitable and affordable accounting system (e.g. Xero, Myob, Quickbooks etc.)
• We offer setup and training on the accounting systems use to make bookkeeping easy
• You will stay on top with your cashflow using smart invoicing technics and timely bank reconciliations
• We can help automate processes to ensure maximum efficiency.
Deductions
• We identify allowable deductions (home office, vehicle expenses, tools, equipment, etc.) so you don’t miss out on tax savings.
• If you are planning a big purchase we will help you time it right to maximize tax benefits.
• You will be provided with the guidance on claiming tax deduction for personal super contributions.
• If you work with contractors, we’ll ensure ABN checks are in place to keep you compliant and avoid ATO penalties.
Annual Tax Returns
• We handle the preparation and lodgement of your annual tax returns with the ATO
• If you need to prepay tax through PAYG instalments throughout the year, we help you understand your obligations and avoid surprises.
• We also review your business structure to ensure it is still working in your best interest.
Business Structure Advice.
Business Structure Advice
• We provide a review whether remaining a sole trader is the best option and help you analyse pros and cons.
• We will guide you on transitioning to a company or trust for asset protection and tax efficiency.
• You will get clear understanding of legal liabilities and compliance requirements for different structures so you can make informed decisions.
ATO Compliance & Support
• Assisting you with audits
• Lodging amendments, and managing queries from the ATO, including reviewing documentation
• Preparing supporting evidence, responding to ATO on your behalf.
Do you have an overdue BAS?
Don’t stress — we can help you get back on track.
TCBS Accounting & Advisory, your trusted partner for expert bookkeeping, accounting, and tax advisory services in Sydney. At TCBS, we understand the vital role that accurate, efficient financial management plays in your business success. We’re committed to helping you maintain impeccable records, ensure full tax compliance, and make confident, informed financial decisions that support your growth.