At Nanak Accountants, we specialise in sole trader accounting services designed to keep your business compliant, profitable, and stress-free. From bookkeeping to tax returns, we handle the numbers so you can focus on running your business.
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Ideal for consultants, designers, coaches, and gig workers who need streamlined accounting and tax compliance without complexity.
Perfect for builders, electricians, tradies, and contractors managing GST, BAS, deductions, and fluctuating income.
Support for eCommerce and small retail businesses needing cash flow tracking, expense management, and tax accuracy.
Customised sole trader accounting for variable income, multiple clients, and project-based earnings.
Nanak Accountants & Associates are registered tax agents (Tax Agent 26113345) who look after sole traders across Australia - tradies, consultants, drivers, carers, freelancers and anyone else working under their own ABN. From eight offices in Victoria, New South Wales, Queensland, Tasmania and Western Australia, we prepare sole trader tax returns, lodge BAS, keep the books and plan ahead. If you are looking for an accountant for a sole trader business, this page sets out what you can claim, what the ATO expects and how we help.
Being a sole trader is the simplest way to run a business in Australia and the structure most of our clients start with. You use your own tax file number, your business profit is taxed with the rest of your income at individual rates, and there is no separate business tax return. Simple does not mean small, though: a sole trader turning over $200,000 has the same GST, record-keeping and PAYG instalment obligations as any other business.
The figures on this page were checked against the ATO, business.gov.au and the state revenue offices on 25 October 2026 and apply to the 2026-27 income year unless we say otherwise. Tax rules change every July, so check the linked ATO page or ask us before you rely on a number.
Sole traders lose money in two ways: by missing deductions they were entitled to, and by claiming things the ATO later knocks back. Both come from poor records and nobody checking the return before it goes in. That is the gap a good sole trader accountant closes.
Register for GST within 21 days of your GST turnover reaching $75,000; ride-sourcing drivers must register from the first dollar (ATO).
Sole traders pay individual rates: for 2026-27 the first $18,200 is tax free, 15 cents in the dollar applies to $45,000 and 45 cents above $190,000, plus the 2% Medicare levy (ATO).
The $20,000 instant asset write-off is permanent from 1 July 2026 for businesses with aggregated turnover under $10 million, applied per asset (ATO).
Business car travel is claimable at 91 cents per kilometre for 2026-27, capped at 5,000 km per car, or by logbook (ATO LI 2026/19).
Your return is due 31 October if you lodge it yourself; through a registered tax agent it can be as late as 15 May the following year (ATO).
We offer transparent, fixed-fee pricing so you know exactly what to expect—no hidden costs, no surprises.
We make sole trader accounting simple and stress-free with a clear, proven process:
Understanding your business, income streams, and compliance needs.
Helping you gather and organise all required financial records.
Managing bookkeeping, BAS/GST lodgements, and sole trader tax returns.
Providing tax planning, cash flow forecasting, and growth advice.
Year-round accounting support to keep your business compliant and profitable.
31 October if you lodge it yourself. If you are on a registered tax agent’s client list before 31 October, the ATO’s lodgment program can extend the due date, with 15 May the following year the latest standard date for individuals not required to lodge earlier.
No. A sole trader cannot pay themselves a wage – drawings are not a deduction, and all profit is taxed in your return. You are not required to pay yourself super, but personal contributions are deductible up to the $32,500 concessional cap for 2026-27 if you lodge a notice of intent with your fund first.
Book your free 15 mins discovery call today and discover how we can help your business thrive
Nanak Accountants & Associates
Registered tax agent 26113345
