24/09/2025
Running a business is full-on, and tax can easily slip down the priority list. The ATO has just released a handy guide to help sole traders avoid common mistakes this tax season—like overclaiming expenses, misreporting income, or forgetting GST registration.
đź’ˇ Key tips include:
- Reporting *all* income (yes, even side hustles and barter deals)
- Avoiding overclaims on personal-use expenses
- Keeping accurate records and using tools like the ATO app & myDeductions
- Knowing when GST registration is required (especially for ride-sourcing)
📚 There’s even a free self-paced course on record keeping to help strengthen your business foundations.
đź”— Check out the full guide here:
If you have sole trader clients, you can help them avoid these common mistakes and get it right this tax time.