Sole Traders topics

do i pay GST

Lingling — Wed, 26 Feb 2020 02:01:42 GMT

I am going to take a job offer, which I need to provide the company my ABN to get paid $100,000 annualy. If I take this offer, I will pay my own income tax and super; and I need to use my own tools for the work. Do I need to pay GST as well?

Wages & self employed

Alice17 — Tue, 25 Feb 2020 03:09:20 GMT

Hello, for the last finincial year I have been part time employed on wages and have worked part time as 'self employed' (sole trader). I am trying to work out how much tax I will be up for with my self employed income. Looking at ATO guides for self employed it says there is no tax for the first $0-$18,200. Will this still apply to me as I would be claiming the tax free threshold from my wages job (i've been working there for two years). I will have made over $18,200 so will be in the next bracket.

Does my wages income affect what tax I will have to pay on my self employed income in any way? Or will they be dealt with separately?

Thank you in advance

Asset disposal closing business

nicolas974 — Mon, 24 Feb 2020 10:24:51 GMT

Hi,

I m a sole trader and own a caravan under my business name. I m closing my business and would like to give the caravan to a relative. I have claimed GST credits when I puschased the caravan a year ago. Will I be liable to any GST for this donation?

Thank you

NM

Leasing Rural Farm Land

Frances — Sat, 22 Feb 2020 06:32:19 GMT

Fences that have to be replaced on rural Land that is leased to a farmer for cattle grazing, can the owner of that land claim the fencing as an immediate write off?

I know that primary producers are able to claim fencing as an immediate deduction, in the case of the landowner does this have to be depreciated at a rate of 2.5%.

Thank You

Late Tax Return

ImogenBeth — Sat, 22 Feb 2020 02:06:54 GMT

Hi, I only just now found out from googling about various tax stuff that you need to submit a tax return even if your business only earned a dollar and it's well past October and I haven't heard anything from the ATO. I am wondering if I should try to lodge or not as I have an ABN and I made about $6 from my business as a sole trader in the last financial year, and if I would face a penalty for not realising. In fact I read somewhere a while ago that the tax free threshold for sole traders is $18,200 just like it is for individuals so am wondering if this is still true and if I still need to lodge a tax return? If I don't need to lodge, is it really necessary to file a non-lodgement advice as I have never submitted a tax return before. Also if I earn $0 but still have an ABN next financial year do I lodge a tax return or file a non-lodgement? And if I lose my ABN is there a way to advise this on a tax return so the ato knows I'm not a sole trader anymore if that were to happen? I would appreciate any help regarding this. I am also struggling to find information about whether receiving a government allowance increases that amount that you are taxed for your income or if your income is treated the same as someone who doesn't receive a government allowance? Thanks.

Travel Expenses

Doc — Thu, 20 Feb 2020 01:49:26 GMT

Hi, I'm a medical practioner working as a sole trader on ABN. I live in Brisbane and worl one day a week in a Brisbane hospital as a PAYG employee. Once a fortnight i travel to Bundaberg to do a private clinin (paid through ABN). Just wondering that am i able to claim the tax deductions for my travel to/from bundaberg and accomodation/meal expenses while i'm in Bundabery every fortnight?

Overpaid sole trader tax

melissalam — Tue, 18 Feb 2020 11:10:25 GMT

Hi there!

Tonight I completed the quarterly sole trader tax form and made a payment via my banking app, however, I paid the wrong amount ($50 more) that I was meant to pay. How can I go about getting this back?

Freelance for an overseas based employer

kaethomas — Mon, 17 Feb 2020 23:49:09 GMT

Hi,

I'm looking into some freelance work for a US company. I will be working from home and paid weekly via Paypal.

What would be my reponsibilities in terms of paying tax and declaring income?

Thank you!

Massage Therapist tax

OBT — Mon, 17 Feb 2020 09:43:49 GMT

I am a massage therapist and have just started my business working from home. I also have a part time job as an employee in an office admin role. I pay tax as an employee on that job and I will earn around $30k per year. I'm hoping to earn around $30k per year doing massage as well, bringing my total gross income to $60k. I know I do not need to register for GST as my massage income is less than $75k. However, I'd like to know how I go about calculating how much tax to pay on the massage income? The part time job is taxed at a lower amount as its only $30k but when you add it to the massage income, in total it will be in the higher tax bracket. So I'm a bit confused how it works and also how/when to pay it. Also, as a massage therapist working for myself from home, is that classed as PSI income? TIA.

ABN

WI11 — Thu, 13 Feb 2020 23:29:12 GMT

Hi! I am trying to reactive my ABN and reached the part where I am asked the nature of my activity. Should I choose *In the form of a business? I am a tutor.
I watched the video and said "ABN is for services to my customers ... not for working in someone's else business"

I am working -not full time- for a person, should I give them my ABN. I just would like to do the right thing.
Again a (language) tutor/instructor, working for someone else.

Thanks!

about massage job's employment condition

yumi0727 — Tue, 11 Feb 2020 14:11:09 GMT

Hi, I am Remedial massage therapist, and working in massage shop for a few years.

I have a ABN, and I give Tax invoice to the shop owner every 2 weeks and he pays me to my bank.

Pay is paid for 50% of massage I did, so it is commision style.

so, my question is .. What is my employment condition..? Is this still self employed..?because I am working at only the shop and do reception work, cleaning..etc in addition with massage job. and I get paid only for 50% of massage I did. so.. When it is quiet day, my pay is only $40 sometimes even being there for all day.. but I am doing reception jobs on top of massage job.

and one more question is..about superannuation.

Previous owner sold business and new owner suddenly added to write " superannuation included" on my tax invoice statement.. but It has nothing changed to my payment before and after he writes it. so I am very confused..

It would be great if you give me any suggestion.

thank you.

New Small Business Claims

BigAl — Tue, 11 Feb 2020 11:00:28 GMT

I'm starting my own small business as a sole trader, I also work full time for another organisation currently. Ive got my abn, registered business name and ip address, I have many more expenses before I can/will actually start earning money such as insurance, web design & hosting, software, laptop, phone, office equipment, PO Box, business cards, auditing for registration.
I will work from home, but don't really anticipate earning anything from the business this financial year.
Can I claim my expenses against my existing income from the organisation I work for? or Can I claim my expenses next financial year even though they have been incurred this year?
If I do earn some money from the business this year do I have to make all my claims even if I've not earned enough to claim them all back or could I still wait until the following year?

Requesting a notice of assessment when you are overseas

harry2020 — Mon, 10 Feb 2020 05:57:13 GMT

Hello,

I am trying to link my ato account to mygov, and I'm at the step where I must show a notice of assessment.

I'm overseas and I can't call internationally.

How can I request a notice of assessment?

Thanks.

Estimating fuel and oil costs using odometer readings

TaxNewb — Mon, 10 Feb 2020 07:15:37 GMT

This page on the ATO website indicates that fuel and oil expenses can be estimated based on odometer readings. If I were to calculate my estimated fuel and oil expenses using this method, do I need actual odometer readings for all business-related travel during the entire year (effectively meaning keeping a logbook for the whole year) or can I estimate the total distance travelled for business during the year based on the 12 week logbook as follows:

Calculate the business use percentage of the car using the 12 week logbook as per the link above.
Calculate the total distance travelled during the year using the odometer readings at the start and end of the year as recorded in the logbook (or by using the odometer readings when the car started and/or stoppped being used for business if it wasn't used for business for the full year).
Calculate the total distance travelled for business during the year by multiplying the total distance travelled during the year (calculated in Step 2) with the business use percentage (calculated in Step 1).

Given that the 12 week logbook period should be representative of travel throughout the year, this seems very reasonable to me. Is this ok?

After this, the total fuel cost would be estimated as follows (and similarly for oil):

[Total distance travelled for business during the year (km) (calculated in Step 3)] x [Estimated fuel consumption of car (L/km)] x [Average cost of fuel ($/L)]

myGovID

VB2 — Sun, 09 Feb 2020 02:52:30 GMT

I am told that BAS is to be reported via myGovID as of this quarter. All instructions say to download it from the APP store. I use a MacBook running 10.10.5, or my iMac running 10.13.6, or at worse, my old iPad running 10.3.3.

Where is it? And if it isn't there, where can I get it?

Thanks, in advance

Victor Braun

From when can I claim

Bigfella — Fri, 07 Feb 2020 15:08:04 GMT

If I've setup a small business later in the year, but have assets for that business which were purchased before the business was a legal entity, can they be claimed as part of that year's tax?

For example let's say I bought a camera and tripod in August, but only setup my photography business in October. They were purchased within the same financial year as the business entity was formed, but BEFORE the business was running.

Lease a car for charter purpose

Vib — Fri, 07 Feb 2020 08:50:34 GMT

Hi there,

I hired/leased a car at $500/week to be driven on Uber/charter purposes.

in the middle of the year, I got a permanent job and I stopped driving the car,

but I had an agreement/contract for one complete year, and i was liable to pay the lease until the contract expire even though i did not use the vehicle on Uber. Can i claim this in my tax return?

Hiring a spouse as an independent contractor

TaxNewb — Thu, 06 Feb 2020 14:59:29 GMT

Let's say I am a sole trader that delivers food via Uber Eats. My spouse recently became a sole trader that provides office administration and personal assistant type services and currently has one client.

Would I be able to hire my spouse as an independent contractor to provide office administration and personal assistant type services to my Uber Eats business? Services would most likely include some or all of the following (potential pricing model in brackets):

Scanning and organising receipts, entering expenses into spreadsheets, etc (hourly rate)
Cleaning the car (fixed cost, inclusive of non-labour costs)
Purchasing supplies as required, such as cleaning products, sunscreen and stationary (hourly rate + cost of goods)
Getting the car serviced (fixed cost, inclusive of actual servicing costs)

The agreed pricing model would be at market rates and commensurate for the work she does.

Leveraging the expertise and services offered by my spouse's sole trader business would free up some of my time to allow me to make more Uber Eats deliveries and focus on strategic planning activities, such as researching other potential home business ideas.

My spouse and I generally work different hours for our day jobs which means that she can usually wash the car and purchase supplies (when necessary) while I am still at my day job. This means that I would be able to go straight out to make Uber Eats deliveries after I get home from work instead of having to spend time washing my car or shopping for supplies myself (when required), which results in lost potential revenue.

In addition, this arrangement would support my partner's newly established business.

Is this arrangement ok? Is there anything I need to be aware of?

Merchant Fees

evisca — Tue, 04 Feb 2020 05:06:08 GMT

Hi all,

I have just started a small business as a sole trader, and I added myself as an additional user of a eftpos terminal. I was wondering if the Merchant fees are tax deductible. I looked on the ATO website but nothing specific was mentioned.

Thank you in advance for the help!

Airtasker cheats

JakerCini — Tue, 04 Feb 2020 04:17:22 GMT

I would like to know what the ato is doing about all the cash transactions on airtasker.
I have a legit cleaning biz and am.slowly closing down because i am unable to compete with cheats.
Go to airtasker and there are 30+ offers for a vacate clean for $200 amd under.
This is impossible if paying tax, super, fees. So it stands to reason there is illegal activity.
Why cant airtasker check if people are submitting tax i mean you know everything about me so why not get a legislation going that says registered sellers need to prove their income?

Starting Drop shipping

Alfieri82 — Sun, 02 Feb 2020 19:51:41 GMT

Hello! I have a big question and I say thank you in advance for who can help:

I'm a chef but now I'm starting Dropshipping with an online store from zero.

As an employee I have TFN but my e-store (Shopify) is suggesting me to add my ABN.

My question is, can I work as an employee (chef) and in my spare time work with my online store as the business owner?

Can I work as an employee if I have an ABN (for my online business)?

Because I'm starting now, I have no income for that business, and for this reason, I cannot leave my job.

I read a lot on Ato but I'm confused, my will is paying taxes as soon I start selling my products without leaving my current job as a chef.

I read also that if I am the only owner, I am a sole trader??? Can a Sole trader work as an employee??

Tax deductions when getting paid to advertise on car

TaxNewb — Sun, 02 Feb 2020 15:30:53 GMT

If I become a driver for a company like Ads on Wheels and Wrappli where I rent out advertising space on my car for other businesses and generate revenue based on the actual driving that I do (i.e. in general, the more I drive, the more I earn), what deductions can I claim? Specifically, can I claim a portion of depreciation and running costs such as fuel, insurance, etc? If so, how do I work out the business use percentage?

For example, let's say I currently take public transport to and from work. But to earn income from renting out advertising space on my car I decide to drive to and from work instead. These trips, as well as all other driving that I do while I have advertisements on my car, would be for both business and personal use simultaneously.

Strengthening my MyGovid

bill_sloman — Sat, 01 Feb 2020 04:47:49 GMT

I've got a MyGovid based on my passport and driver's license. I finally found an extract from my birth register, which I should be able to use to make my MyGovid even stronger, but my birth was registered in Tasmania before 1970.

The only contact mechanism I've been able to find to ask about how I might do this was a phone number, and I gave up on that after twenty minutes of poorly chosen music.

Presumably there are other possibilities, but my experience with this particular bureaucracy is that it isn't goood at providing error recovery mechanisms, or imagining how their procedures might fail to work.

Bill Sloman

When am I required to pay tax on sole trader income if I invest in shares

pav — Sat, 01 Feb 2020 02:03:09 GMT

I am current working at a full time position earning a 50-90k
If I work as a contractor and earn 10k as a sole trader I am only required to pay tax on that money at EFY.
If I invest the 10k in an ETF or Managed fund which reinvests the dividends, am I required to pay tax on the 10k still? Or is it counted as an expense to my business?
Or Is it when I withdraw the funds from my shares that I will pay tax in the financial year that I withdraw?

Also, does it make my total taxable income appear less? Or is my total taxable income independent of whether I buy shares with it? does the government see me as earning 50k-90k + 10k?

I would really appreciate some clarity on this. Thanks.

how to pay my own taxes

Sammie87 — Thu, 30 Jan 2020 09:25:37 GMT

I am starting a new job with a cleaning company, I will have to pay my own tax and pay the company a proportion for service fees. Clients will pay me directly and at the end of each week I pay the company the service fees, they have said I do not require an ABN but im confused on how to pay my own tax and when I pay it am I a sole trader and how do I work out what tax to pay? The ATO site is confusing when you don't know where to start looking? Im seriously at a loss and confused please help!

BAS for two businesses

ironyda — Thu, 30 Jan 2020 09:05:51 GMT

I started two businesses.

One is ride-sharing and the other one is illustration.

I'm going to do BAS at mygov site and noticed that I only enter GST I owe to ATO and GST ATO owe me.

Does that mean I don't need to separate my two businesses?

Do I need to just add both ride-sharing and Illustration to lodge?

Please let me know. I'm new to BAS. Thank you.

Logbook queries for car expenses

TaxNewb — Thu, 30 Jan 2020 04:10:13 GMT

Two questions related to logbooks. Hopefully they're straight-forward, but I can't seem to find answers anywhere.

Scenario

I start using my current car (Car A) for business use on 1 Nov 2019 and stop using it for business on 30 Apr 2020 because I buy a new car (Car B) and start using it for business use from 1 May 2020.
During the time I use Car A for business (i.e. 1 Nov 2019 to 1 Apr 2020), let's say the business use percentage is 60%. At all other times during 2019-20 (i.e. 1 Jul 2019 to 31 Oct 2019 and 1 May 2020 to 30 Jun 2020), Car A is used solely for personal use.
From 1 May 2020, let's say the business use percentage of Car B is consistently at around 90% because Car A is used most of the time if I need to drive for personal use .

Question 1

To work out how much to claim for car expenses using the logbook method, this page on the ATO website says:

Keep a logbook.
Work out your business-use percentage by
1. dividing the distance travelled for business by the total distance travelled
2. then multiplying by 100.
Add up your total car expenses for the income year.
Multiply your total car expenses by your business-use percentage.

If a car is only used for business purposes for part of the year, do I still include all car expenses during the income year in step 3? I can't find anywhere on the ATO website that provides further details about what to do differently (if anything) if a car is only used for part of the year for business purposes.

Question 2

The same page on the ATO website says "If you want to use the logbook method for two or more cars, the logbook for each car must cover the same period. The 12-week period you choose should be representative of the business use of all cars."

What am I supposed to do for the scenario above where the two cars are used for business purposes at different time periods during the same financial year that don't overlap, and the business use percentage for each car is different?

There are three options I can see for choosing the 12-week period, but none of them seem appropriate:

Completely during the time I use Car A for business (e.g. 1 Jan 2020 to 24 Mar 2020) - I recall reading somewhere that if you change cars during the year you don't need to do a logbook for the second car if the business use percentage doesn't change. However, in my scenario, the business use does change significantly so my understanding is that this option is not valid. In addition, it would disadvantage me since the actual business use for Car B Is significantly higher than Car A.
Partly before and partly after switching from Car A to Car B for business (e.g. 6 weeks before 1 May 2020 to 6 weeks after1 May 2020) - This would ensure that the business use percentage of Car B comes out more accurately (i.e. close to 90%). However:
- The purchase of Car B will occur shortly before the switch to Car B for business purposes so for most of the period before switching from Car A to Car B, I would not yet have owned Car B. The logbook for Car B would include this period (approximately 6 weeks in the example) where I had not yet owned the car. Presumably this is an issue.
- The logbook for Car A will include the period after switching from Car A to Car B. Since Car A is no longer used for business during this period, including it in the logbook will reduce the overall business use percentage of Car A. If the answer to Question 1 is that I can claim all expenses for Car A during the income year (including before and after the period I used it for business purposes) then this may be reasonable. If not, it disadvantages me.
Completely during the time I use Car B for business (i.e. 1 May 2020 to 23 Jul 2020) - Not sure if this is ever valid, but either way it's similar to the first option where the business use percentage of the two cars are different.

So... what am I supposed to do?

Operating lease

JonSnow — Wed, 29 Jan 2020 21:05:44 GMT

Looking to lease software system under a operating lease. The monthly amount is $2450 inc use is 100% business. Can I claim 100% Of the spend because it's a operating lease? Or how much can I claim? Thanks Jon

Tax returns

Satay08 — Sun, 26 Jan 2020 21:54:53 GMT

Hi asking for a friend, he has only recently linked his ATO to my Gov and has been going through the years online, he had the same tax accountant for about 11 years ( doesn't use them now ) he looked at all the letters from the ATO about his NOA and saw he was supposed to receive many tax returns that he never got, one was a cheque in his name and the others were EFT to his nominated financial institution. He had never given his accountant his bank details because he didn't trust anyone to have them,
Are they allowed to just nominate their own account or trust account for any payments to go into? And all the online letters he saw were posted to his accountants P.O Box , they never forwarded any returns or any letters from the ATO , he paid in advance for any tax or bas he did with them so no fees were owing to them, how would they be able to keep a cheque that is in someone elses name?? Thanks

GST charges on government invoices i.e. land tax, council rates etc

stevebennett — Sat, 25 Jan 2020 04:50:37 GMT

Hi,

I own a restaurant in Tasmania which i have been leasing for the past 4 1/2 years. The Real Estate Agent we deal with for the past 12 months is insitant on putting a GST charge on all government invoices - council rates, land tax, water rates etc though there is no GST component on the original invoice. When challenged said agent emails me an excerpt form the LAW INSTITUTE JOURNAL November 2000. From my research there is NO GST on government charges fore mentioned.

Am i correct??

thank you in advance.

Sole Trader - Motor Vehicle Write-Off and/or Depreciation

CleanerTax — Sat, 25 Jan 2020 00:57:18 GMT

Hi All,

We have a cleaning business in which we travel to all our clients to undertake work. The vehicle we use was bought for private use 3 years ago, however this is the first year in which the business is in operation. I'm struggling to find a clear answer surrounding how to calculate and claim depreciation for a vehicle that was purchased prior to business operation. It was purchased for ~10,000 on top of a trade-in. If I'm not mistaken, the instant write-off is only for assets purchased within the financial year that the claim is being made.

So my question is, how do we calculate depreciation for an asset purchased and used years proir to the business being in operation?

Thank you!

Super payment

beetles67 — Wed, 22 Jan 2020 06:06:11 GMT

Hi there,

Can an employer deduct my invoices for super payments? I have nil contract stating this is the case, just an email saying that it's now being deducted from my invoice because I am an employee for super purpose. Prior to that I was paying my own.

Hiring an employee

gambit9 — Sun, 19 Jan 2020 10:45:30 GMT

I've been working as a sole trader typing from home for the last 10 months and will be having someone help me, as an employee, this year. Will I need to provide activity statements to the ATO even though I earn less than 75K, so not registered for GST? Also, how do I register for PAYG withholding on the business portal exactly?

Working at Home Part-Time as an Independent Contractor

Kev99 — Sat, 18 Jan 2020 11:51:47 GMT

Hello,

I recently came upon an opportunity to work at home part-time for a company called Lionsbridge as an independent contractor and they mentioned that I would be responsible to pay taxes myself from the income I receive.

Therefore, I was wondering with this specific job, will I need an ABN and how/when would I pay my taxes to ATO from the income I receive from working for Lionsbridge?

Thank you.

Cancelled ABN

Maidmyway — Thu, 16 Jan 2020 07:04:04 GMT

I was unaware that my ABN was cancelled until I went to cancel it 6 months later as I was changing Business trade, can I declare tax with new abn for old abn invoices ?

Sole trade contractor GST

dennisonline87 — Wed, 15 Jan 2020 07:48:30 GMT

I'm a sole trader contractor who submits BAS quarterly on a cash basis. Our clinic bills patients for work I perform on them. We have an agreement whereby I get a % of the billed amount on a monthly basis. The monthly invoice provided by the Clinic shows the following:

Clinic Gross Earnings (GST Free)

- Service Fee charged to contractor (Their %)

- GST on Service Fee

= Net Payable to myself

When preparing my BAS in respect to the above, can you please help with the following questions:

1. Do I include the total amount of Clinic Gross Earnings in G3 and G1?

2. If included in G1, would the answer to "Does the amount shown include GST?" be "N"

3. Do I include the Service Fee Payable in G11?

4. I assume I can claim back the GST portion on the Service Fee under 1B.

Thank you for your assistance

Casual job as a massage therapist

millerfb — Wed, 15 Jan 2020 04:22:38 GMT

Hi there,

I have a new job as a massage therapist and the hours are casual. I am paid in cash by the owner of the business and am employed on the basis of an "independent contractor".

I have an individual TFN and I want to arrange my affairs to be in order. I keep a record of the hours that I work each week as well as the amount of $ I receive.

Do I have to register and obtain an ABN? For this financial year I won't earn over the tax free threshhold of $18,200. Do I pay tax on a weekly, monthly or quarterley basis. What is the process for me to pay tax to the ATO?

Thanks in advance

Claiming Deductions

kjrc — Thu, 09 Jan 2020 12:22:01 GMT

Hello,

I am a sole trader and only started my online business in Aug 2019. I have not been earning much and looks like my income will be under $18,000 at the end of the financial year (solely focused on the online business as a stay at home mom so no other income). My question is, will I still be able to claim the costs for building my website, computer expenses (I had to buy a laptop to run my business)?

Thank you for helping.

BPAY enquiry

TaylorBeutel — Tue, 07 Jan 2020 06:34:05 GMT

Hi,

I recently paid my PAYG tax payment on Sunday 5th (two days ago), just wondering when it will show on the ATO website that I have paid an no longer have an amount that is due?

Thank you!

- Taylor

Instant tax write off. Do limits include or exclude government charges for cars

Rudolph — Sun, 05 Jan 2020 09:34:56 GMT

Hi ATO-C,
I am planning to purchase a car and tax deduct this. The limit is $30K and I am keen to go as close to this as possible.
Does the price that the ATO will refer to the drive away price or the price excluding deliveries and charges.
Eg. if I purchase a car for $29999 excluding delivery and charges - leading to the drive away price being +$30K then will I not be able to claim this as a total tax deduction this year.
Thanks for your help.

MyGovID for foreigners - can´t verify identity

charvocado — Fri, 03 Jan 2020 09:59:51 GMT

I have a sole trader ABN in Australia but I am originally from the UK. With the new MyGovID you can only verify your identity using an:

AUSTRALIAN passport

AUSTRALIAN birth certificate

AUSTRALIAN driving licence

or medicare card.

I have a medicare card but all my other documents are from the UK and you need 2 documents to identify yourself......this new system is flawed, I am sure there are other foreigners with ABNs who need to be able to use this system!

myGovID

Aloonatnat — Thu, 19 Dec 2019 05:11:42 GMT

As I do not have a smart device, will the ATO subsidise me to go obtain one (as I use a desktop pc to do all of my work as a sole practitioner and my old mobile does the job that I require of it). Now I have to buy a smart device to get a myGovID.

Instant Asset write off rule

gaurangpatel — Wed, 18 Dec 2019 22:16:02 GMT

Hi, our client is sole trader as general practioner who bought car for 100% business use as he has to travel between 2 practices. He bought car worth $ 26700 in 2019fy. His business income is between 1m to 2m.
Is he eligible to claim full deduction amount as depriciation expense?
Please advise me.
Thank you.

PSI - Car expenses

WSIN — Wed, 18 Dec 2019 11:30:25 GMT

As a contractor and PSI apply, can I claim travel kms between home office to client? Also, parking expnese?

Thanks

Super withdrawal and sole trader

Rowens — Wed, 31 Jul 2019 21:59:36 GMT

Hi, I'm over 60 and during 2018 - 2019 I withdrew a lump sum (50,000) from super to finish off part of my home and pay off some debt then life changed for the worse. I needed to return to work but could only find a job that required me to have an abn. As a sole trader I have earned about $4000 but also received $9000 in that period from TTR or Transition to Retirement. I have had no other income. Am I likely to have a tax bill?

Tax caculator

Sibbers2000 — Sun, 27 Oct 2019 00:06:39 GMT

I am a self employed
Sole trader. I earn a refund on gst spent on purchases after filling out my BAS statement. Do I have to include this refund in my income to work out my tax owed.

Do I need to pay tax in Australia from you overseas business income

juju — Wed, 27 Nov 2019 11:26:22 GMT

Hi Sir

I am an Australian tax agent living in overseas and going to either set up a sole trader or a ltd co in overseas for doing the tax return for expat living in overseas as well as few Austalian resident tax return. All the work will be done in overseas would my overseas businessl be taxed in Australia? if so how would be taxed? what portion of the business income would be taxed? if so what is the tax rate? or Do i need to set up a sole trader or a ltd Co in Australia then?

Best Regards

Tax Free Threshold moving from self-employed to employed

BKerswill — Mon, 21 Oct 2019 22:44:43 GMT

Hello,

For the start of the tax year, I was a sole trader operating my own business putting aside money for my tax. As of this month, I will be ceasing business for myself and becoming an employee of another company. Should I claim the tax-free threshold on their declaration or not?

Thanks for the help.

Questions regarding Instant asset write off and PSI

ReDanAU — Sun, 21 Jul 2019 10:46:38 GMT

Hello all, I just had a few questions regarding my first tax return here in australia. I have been an australian resident for tax purposes for the entire tax year. I do a little graphic and web design as a sole trader on the side of my regular job. In the past tax year, I earned $24600 from my standard job and $5000 from freelancing. I also spent around $4400 in expenses & assets for starting up the business (computer, monitor, software etc). My questions are as follows:

1. As my income counts as PSI (personal services income), am I still eligible for the instant asset write off up to $20,000 for my business expenses?

2. If all of the expenses are eligible for the instant asset write off, will I still need do make a depreciation statement or plan for them?

3. I read that as the income is classed as PSI, I am unable to claim tax back on rent and rates for conducting my business from home. Am I still able to claim a portion of my Internet & phone bills that I use for my business?

4. Do I put down the amounts for monthly expenses (software) as one lump sum for the entire year on the return?

5. Is the amount paid for postage of assets delivered to me for my business deductable as an expense?

Any help would be greatly appreciated

tax implication

juju — Wed, 27 Nov 2019 05:33:49 GMT

Hi Sir

I am an Australian tax agent living in overseas if i want to be a sole trader should I only need to get a ABN in Australia?

what else i need to do? Do i need to pay tax in Australia if I work and seeing client (expats) and doing the tax advice and tax return in overseas, all the contract will be signed in overseas? and also pay tax in overseas, so do i still need to pay tax in Australia?

what about if i am going to set up a private company in overseas as an Australian tax agent, do i need to set up a company in Austalia? How to sturcture it, if I will be the director and share holder of the overseas Co and Aussie Co? what is the tax implication? Should these two company not relate to eachother or overseas Co is the sub of the Aussie Co?

Best Regards

Rideshare Expenses Deduction Confusion

hamidaims — Mon, 15 Jul 2019 12:06:35 GMT

Pls Help.

I am fulltime Uber driver. I declared earning details in only ""Business/sole trader, partnership and trust income (including loss details)"" section.

Now, where to add expenses deductions?

I have these deductions:

1) Ridshare Service fees

2) Insurance

3) Tolls

4) Car Rego

5) Depreciation

6) Car Accessories

7) Interest on car loans

8) Parking

9) Traveling

10) Fuel

Secondly,The section where I added income in Business coulmn there is "manually depriciation" and "Car maintaince expenses" columns. Should I add these expenses manually?

Which deduction I can add in "Other Deductions" section?

Please help in details would be highly appreciated.

Self Employed

Nicole77 — Mon, 11 Nov 2019 01:38:49 GMT

Hi, I am recently now self employed, how do I go about the tax free threshold? I remember when I worked for a company I submitted a form to receive the tax free threshold, now how would I go about that? Do I need to submit a new form to the ATO as I am self employed? Or do I just work, out the money aside come tax time and pay it then?

Manage PAYG instalments

luongvantri — Tue, 11 Sep 2018 09:46:12 GMT

Hello,

I am a sole trader and I have paid tax quarterly. I would like to change my PAYG to annual instalments and I have seen the following note on the ATO website:

"If you change to annual instalments, after the instalment due date you will be unable to change for the remainder of the financial year. This change will take effect from 01 Jul 2018".

Does it mean that the due date of tax payment would be on someday in July 2019?

Can I pay the annual tax (2018-2019 financial year) at any time before 30 June 2019?

Thanks

Instalment Payments

DJ1 — Fri, 05 Oct 2018 02:06:50 GMT

I have begun operating as a sole trader at the begining of this year and lodged my 2017/2018 return myself using the ATO tools. My lodgement is currently under review (has been for over two months now) but in the mean time I would like to know if I can commence making tax payments to your department so that at the end of the next year I will not have a large tax bill. Please can you assist with this and advise where/how I would implement this. Thank you.

CARRY FORWARD LOSSES

RED313 — Wed, 31 Jul 2019 02:44:30 GMT

Hi ATO Community,

I have sole trader losses from previous years that I am carrying forward to offset personal income for tax year 18/19. Am I able to only offset SOME of my income for my current tax return, thus thus being able to carry more losses to the following years.

EG, I have $100k carry forward loss, my income for the current 18/19 tax return is $50k, am I able to only carry forward $22k, thus making my current income $18k, thus maximising my return in future years, or do I have to reduce my current income to $0.

Thanks,

Claiming credit on a Statement of Account

gav1 — Tue, 17 Dec 2019 03:19:02 GMT

I have a credit on my Statement of Account for my individual/sole trader return.

Do I have to do anything in order to claim that credit? Or will it be paid to me automatically by the ATO?

Also, will the ATO pay interest automatically on this credit, or will I have to apply for this also?

Thanks kindly for your help!

fuel Claim

Aleexron27 — Tue, 17 Dec 2019 04:34:59 GMT

Im currently working as a Sole trader regiatered for GST I have a subcontract and a contract in commercial and residential cleaning, I had to have a Ute because I use to carry to many stuff and my car was not suitable for it.

The Ute is 100% for the bussiness, can I claim all the fuel (petrol) used in the Ute? As well CAN I claim registration and insurance?

New scam?

Beejay777 — Sun, 15 Dec 2019 08:20:20 GMT

I’ve had an Australian lady call me twice and leave voice mail (off a private number) asking to call her back on mobile and she also emailed me asking to speak about my tax return. I called the scam line and they said there was no history of any attempted contact from ATO - so I emailed the lady challenging her And requested she contact me via mygov and she said to call the switchboard to confirm her credentials and ask to be transferred as she doesn’t have access to my mygov? Also in her title says she’s crime investigation officer for VIC/TAS but I’m in WA.

Real or fake?

Business expenses

Herkess — Fri, 13 Dec 2019 07:23:59 GMT

when a sole trader's business is registered at residential address and he moves out of it after 2 months and rents another apartment for few months during a financial year.

Can he claim the business expenses from both the places and at what percentage?

Using a personal loan to start sole trader business for spouse

mcravi — Thu, 12 Dec 2019 05:31:15 GMT

We are exploring a possible business for my spouse.

She is currently not having any income and since we are looking to fund the new business with a personal loan, she can't get the loan on her name. If we get a personal loan in my name and she would use the funds to start the new business as a sole trader, can we claim deductions on the interest on the loan?

In all probabilities, the EMIs for the loan will be paid by her based on her business income.

GST Claim

ABN_QUES — Thu, 12 Dec 2019 03:20:50 GMT

Hello Experts..

I use to work on ABN 2 Years ago and worked on ABN for 6-8 Months.. Did all my taxations and BAS filing on time that time and now working full time as PAYG.

Planning to buy a car and one of the broker told me that if you have an 'active' ABN, you can buy a Car on ABN and claim GST.

Though my ABN is still active but I dont have any transactions reported on it.. Is it legal to buy Car on ABN and claim GST on it?

Please suggest as I dont want to do anything which is Illegal.

Questions about selecting category for tax return for Uber Driver.

ohmanbo — Thu, 12 Dec 2019 02:41:38 GMT

I have a couple of questions for first time tax return lodging and they are related.

1. In the third step of 4 in tax return, the category I choose for my Uber job is
"You were a sole trader or had business income or losses, partnership or trust distributions (not from a managed fund)"
and I selected "Partnerships" among the four options ("Business/Sole trader income or loss","Partnerships", "Trusts", and "Net farm management...") is this category is correct one for Uber"?
2. Deduction - I have chosen work-related deduction for my deductions such as fuel consumption, car maintenance, insurance, and things I spent for becoming an uber driver. I have all my calculation done with receipts but I can't enter my deduction as I am a sole-trader. So, I want to know where I can enter my deduction. Can I enter my deductions in to a form "Other deductions - manually calulated"? and how to upload all my receipts to prove my expenses including my log book for first 3 months to determine the percentage of car uses for Uber.

MyGov says that PAYG statement is ready but it doesn't appear in ATO

KLeslie — Wed, 11 Dec 2019 21:52:58 GMT

Hi,

My husband has received an email from MyGov saying that he has a hew inbox message. The inbox message says his PAYG statement is ready but when we go into look for it we can't find it.

Is this simply a glitch or has something gone wrong?

Thanks for your help,

Karen

Deduction for rental accommodation

Sum — Wed, 11 Dec 2019 07:38:23 GMT

My client is a doctor and lives in Perth. He is a sole trader and has been engaged by a clinic in Northam to provide his services 3 days a week for 2 years. He has rented an unit in Northam to stay for the 3 days and then returns back home to Perth each week. Can he claim a deduction for the :

- rent he pays

- bond paid

- other expenses such as electricity, water etc

- use of car to travel to and from Northam each week

Activity Statement

karatt — Wed, 11 Dec 2019 05:53:16 GMT

When I log in onto my Gov account, I get the following message:

Your activity statement is now ready. You can lodge and pay now.

I paid my debt on my activity statement two days ago, so why do I keep getting this message?

Deductions

bayfm — Tue, 10 Dec 2019 05:21:51 GMT

Hey guys,

I am a sole trader and claim GST. When im entering im claiming a full deduction for things for my ITR, do I include or exculde the GST compoent of those items.

Thanks

GST installments

karatt — Mon, 09 Dec 2019 03:24:58 GMT

I have just paid my GST quarterly installment and I just paid the amount which was shown on the form. I did not work out what the ATO owe me. Is it possible to do a reconciliaton at the end of the financial year.

Does GST apply to income earned before the 75K threshold?

emily777 — Thu, 05 Dec 2019 04:47:18 GMT

Hey people,

I'm a new sole trader and only recently aquired an ABN.

I'm expecting to make above $75K, meaning I'll have to register for GST - but I'm just wondering if I'm supposed to charge for GST on the income I'm making under 75K?

Meaning: for my very first invoice, do I charge GST from my employer; or, do I not start charging GST from my employer until I hit that 75K mark?

I'm just concious that the onus is on me to pay the GST and I don't want to not charge for it when I'm supposed to... and then be hit with a big tax bill!

Any advice would be appreciated!

Thanks!

Share Trader mark-to-market

Dexter — Wed, 04 Dec 2019 14:27:10 GMT

Hi ATO Community,

I am a share trader (share trading as a business) . My broker, Interactive Brokers AU, reports share trading profit/loss directly using mark-to-market valuation (e.g. covering a fiscal year) rather than the opening stock/purchases/closing stock model. Can I use mtm to complete the tax return business income section, if so, please provide details.

Thanks you,

Dexter

Superannuation account

EMWE — Fri, 29 Nov 2019 03:00:16 GMT

I have just found in my MyGov account a supperannuation fund that i have not opened with regular contributions from an employer that i do not have?? what is the best course of action to take

Are rent to own cars tax deductible

sye70 — Thu, 28 Nov 2019 01:28:57 GMT

Hi. I am currently driving with Uber and Didi and my car is Rent to Own by a company. My weekly payments are $340. Can I claim the $340 back on tax or any part of it?

Independant trader taxation

fernandogmt — Wed, 27 Nov 2019 11:34:41 GMT

Hello, I live in Spain and I plan to go to Australia

The problem lies in the fact that I work as a trader. I mean, I trade with IB the financial markets and here in Spain I pay the taxes.

Which is the Tax calculation in Australia for an annual profit between 100,000-2000 USD from trading activity? I run as well Trader Profesional and I like to know if I can manage from there.

Many thanks in advance

Super

sri — Mon, 25 Nov 2019 09:11:05 GMT

I am a sole trader and I did not pay my super for last financial year. Is it possible pay my last financial year super by this year?

Asset write-off of Motor Vehicle For Sole Trader

DavidVo — Fri, 22 Nov 2019 03:13:08 GMT

Hi all, I am a sole trader and rely on the use of a motor vehicle to complete the jobs. If I acquire a motor vehicle new or used under 30,000 before July 2020, would this be an instant write-off which I can claim? Also is there a specific type of vehicle or brand I must select to be eligible?

I am not required to register for GST so I am have not registered.

Thank you for your time.

Small business loan

tclw — Fri, 22 Nov 2019 02:05:53 GMT

I am a sole trader and a family member in the UK would like to assist with a small loan to help grow the business. Are there any specific thresholds for tax purposes and as it will be a private loan arrangement how do I report the income? thanks

Are rent to own cars tax deductible

sye70 — Thu, 21 Nov 2019 22:54:53 GMT

Hi. I rent to own a vehicle through a company so I can drive for Uber and Didi. I pay $340 per week to rent the car. Is it tax deductible

Foreign Professional Athlete FIling

ProSportCPA — Wed, 20 Nov 2019 20:18:18 GMT

My client is a foreign professional tennis player that has prize money from multiple tournaments in Australia. We have a form that was completed titled "2018-19 Australian Tax Return and Withholding Variation Application for foreign resident individuals competing at the 2019 Australian Tennis Open." This form includes all Australian income for the tax year and applicable business expenses. Are there any additional filing requirements?

If so, this is very difficult to work with if you aren't an Australian National. The client has attempted to link a myTax account to a myGov account, but it is not being allowed. Outside of that, the only option is to go through a registered Australian tax agent because all of the income is personal service income. No paper filing is allowed.

Paid extra tax by Bpay, now in credit, need to claim back

Peterthenurse — Sun, 17 Nov 2019 18:18:53 GMT

Hi, I have a payg job and also do a sole trader role. This is year 1 of the sole trader role. I have been making Bpay depoists to my sole trader name linked to the ATO thinking this was the correct thing.My new accountant, says that for year 1, I should pop this tax into my own offsett account andpay when the time is right. I can see how to deposit into the ato, but I cannot see how I actially get the money back, it is visible as a credit. Any suggestions ?

PSI vs contractor

Erinnn — Sun, 17 Nov 2019 02:12:30 GMT

Hi there!

I’ve recently decided to do some contracting work. The type of work is not considered a hobby, but I will earn under the tax-free threshold this year. The PSI tool result is that my earnings are classified as PSI, but the PSI rules do not apply.
Does this mean that I am considered a contractor? Do I need an ABN?

Many thanks,
Erinnn.

Claiming tax deduction on artwork

pauls33 — Sat, 16 Nov 2019 23:53:38 GMT

I'm an independent contractor in healthcare working within a larger clinic.

I recently purchased artwork for my office and was advised that artwork can be tax deductible.

On looking into this further I see articles stating that small businesses can claim this as a tax deduction upto a value of 20,000 AUD.

I was trying to clarify if there are clear criteria for small businesses vs being classified as a sole trader and wondered if anyone could provide any clarification.

Many thanks,

Paul

myGuvID

bgroper — Thu, 14 Nov 2019 02:11:51 GMT

Does the myGovID app work on android tablet without any sim card ? The tablet connects to interwebs using wifi as usual.

Seems there's a severe shortage of good facts and information about this app.

Being employee and sole trader

chiara — Mon, 11 Nov 2019 10:22:32 GMT

Hi, I work casual approximately 25 hours per week and I have been offered to work remotely ( as a freelancer) for a studio overseas. How does it work for tax?
I know that I will need to get an ABN but will tax be calculated separately?
Will the threshold be calculated taking into consideration the combined salary and the money earned as a freelancer?

Thanks

Instant Asset Write Off - Small Business and Employee

Joshuadavies2 — Sun, 10 Nov 2019 09:13:44 GMT

Starting up a small business whilst also working as an employee. I am an electrician and carry tools to work daily so i can claim my vehicle depreciation as well as all vehicle expenses by logbook method. However, i am wanting to start my own business whilt also working as an employee for primary income as i start the business.

If i earn 75% of my income as an employee and 25% as a small business, how does this work with a $30,000 instant asset write off?

I need to buy a new utility vehicle, tools, etc. So my deductions may come to $40,000 that i would intend to write off instantly. However, as the wnd od the tax year is fast approaching and i have not actually started the business yet, my deductions of $40k will most probably exceed the income generated by the small business. However my income as an individual will be far greater and i would like to use this deduction to reduce my taxable income as an employee also.

Am i eligible to do thos as i meet the requirement for the instant asset write off as i am a small business entity however i am wanting to apply to deduction to my income as an employee where i am being taxed at 37-45 cents in the dollar.

Home-based business running expenses - accounting for

lampet — Fri, 08 Nov 2019 08:24:07 GMT

I have a home-based business and do my own book keeping using small business accounting software. I rely upon the accounting software to help me lodge my personal tax return. I can claim home office running expenses (heating, cooling and lighting) by one of two methods:

By splitting my energy bills into business and personal use amounts. The business use amount is based on the proportion of the floor area I use for business related activity and the proportion of the year that I used it for the business.
By using the fixed rate of 52 cents an hour for each hour that I operate my business from home - based on either actual use or a pattern of use.

If I decide to use the first method, accounting for these expenses in my accounts is reasonably straight forward. But what do I do if I want to use the second (fixed rate) method? How do I account for these expenses so that there is a link to the (fixed rate) expense tax deduction?

Submitting Tax Return as a freelancer working overseas

Emma1990 — Wed, 06 Nov 2019 09:20:56 GMT

Hi there,

I am needing some advice about my tax return.
I am currently living in Germany and working as a freelance designer. I am a bit confused about whether I need to lodge a tax return in Australia? I think I still classify as an Australian Tax resident. I am assuming I enter my gross profit as an income earned overseas. However I am not sure exactly how to do this as I have more than one client?

Has anyone had a similar situation or be able to offer some advice?

Thanks

How to Lodge Tax Return

Heenal — Wed, 06 Nov 2019 04:28:37 GMT

If a person works as a Waitstaff but gets paid on ABN, how does that person lodge Tax return?

Sole trader with no business income this year

CMac58 — Sat, 02 Nov 2019 00:17:36 GMT

My daughter started a small business (sole trader) in 2012, and has completed tax returns each year.

Over the last few years she has not received any income from the business, but has included the details in the Business/sole trader, partnership and trust income (including loss details) section – entering zero in all fields, and carrying forward a small loss from prior years.

This year in her return (we use myTax through the mygov website), we have done the same thing, but when trying to save and continue to finalise the return, we receive an error

"Fix the following errors:

Error 1 of 1Business income or losses
- Error 1 of 1Other business and professional items
  - Error 1 of 1Select the code that describes where the salary and wages have been included Total salary and wage expense code required"

There is nowhere for such a selection to be made.

Could someone please advise what we should do.

Company ride-share laws

Morphy1 — Fri, 01 Nov 2019 23:30:30 GMT

Hi,

I have been consulting to various industries under my company (a PTY LTD company) for quite some time. I draw a monthly salary from my company. My company owns and maintains a company car for business purposes.

Consulting occupies most of my time with across a range of industries and clients, however to help during quieter periods between clients my plan was for the company to make better use of the car and set-up ridesharing under the companies name (with me as it's Director and the driver).

My salary would not change and I would not be claiming any personal expenses because my company would carry these expenses. The whole idea is a better use of the car and my time. However I was recently informed that the ATO would not allow my company to claim any of the vehicle related expenses before calculating the company tax liability at the end of the financial year and I must also set-up as a sole trader to do any ride-sharing.

I am very confused by this advice. I can't see anywhere, including in the law (I'm a regulatory specialist) and on the ATO website why my proposal would not be allowed.

Can someone please explain the reason for this information coming out of the ATO?

Assessable income from selling instantly written off asset where business use has changed

TaxNewb — Thu, 31 Oct 2019 23:13:36 GMT

If I dispose of an asset that I've previously instantly written off in full and the business use proportion has changed during the time that I held the asset, what business use proportion do I use to calculate how much I need to add to my assessable income?

For example, let's say an asset is purchased for $10k and instantly written off in Year 1, the business use is 10% in Year 1, 70% in Year 2, 100% in Year 3, and the asset is sold in Year 3 for $8k. To calculate how much needs to be added to assessable income in Year 3, do I multiply the sale value of $8k by:

Only the business use percentage in the year the asset was instantly written off, i.e. 10%
The average business use over the three years, i.e. (10% + 70% + 100%) / 3 = 60%
Only the business use percentage in the year the asset was sold, i.e. 100%

Other depreciating assets first deducted

Bonzo — Thu, 31 Oct 2019 05:36:19 GMT

Hi guys,

Last year my accountant lodged my income tax return. This year I am having a crack at it myself. I am a uber driver and I had bought the car before starting to drive for uber for $14000

My question: We used the diminishing value depreciation method to depreciate the car. My accountant depreciated the car from the time I bought the car in 2015 and the time I started to drive in 2017. She sliced the depreciation incurred before starting to drive for uber and did the appropriate apportionment of the depreciation for the financial year. I noticed in the income tax return she mentioned Other depreciating assets first deducted = $14000.

Do I write the same amount of $14000 for this year's tax return as well? I am trying to understand why it is being done. Is it to keep track of the depreciation? The car can be depreciated for 8 years.

Any feedback would be highly appreciated.

Thanks

Uber driver Tax return

JKFLDSA1234 — Wed, 30 Oct 2019 23:23:33 GMT

Hi, I have a question about log book.

I see the log book can be from the start time to end time of the working period.

My question is I work on Ola, Uber and DIDI. If I got one trip from one of them, i will offline in other two apps. Should I record all of the start time and end time. Or, I can just still record the start time of the working time and end of the working time.

Full time uber driver studying property market on the side; how to lodge BAS and income tax

Bonzo — Wed, 30 Oct 2019 14:58:06 GMT

Hi guys,

I am a full time uber driver and lodging my BAS and income tax for the year. I bought some property courses and subscriptions for property market research. My goal is to venture into real estate investing and have a real estate business on the side.

My question is regarding BAS lodgement and income tax lodgements. I am a sole trader as a uber driver, can I claim my expenses of property subscriptions ( pricefinder $199/month ) and some property courses ($2400) on the same ABN number.

Any feedback would be highly appreciated

Thanks

Balancing account.

karatt — Mon, 28 Oct 2019 04:04:51 GMT

To whom it may concern,

The ATO suggests to us that if we lodge our return on line we would get a faster assessment than if we lodge a hard copy. From my experience this is only half true. I lodged my tax return and within a week I got an assessment. However and this were it gets interesting, I decided to lodge an amendment and from my memory this was the 10th of this month. I still have not received a revised assessment. When I go into my MyGov account, I read balancing account. Why should a simple amendment take far longer than lodging the original tax return online.

Karatt

Uber driver income tax lodgment

hamidm125 — Sat, 26 Oct 2019 16:40:08 GMT

Hi. As an Uber driver, I am on the completion of my income tax lodgement. I only have income from driving for this year.

I come across a section on the income tax lodgement. when I tick "Business/Sole trader income or loss" under what shall I thick next:

"Personal services income"

"Business income or loss" ??

and what is the inportant selection after this.

Thanks

Sole trader spouse's income at tax time

Ccreedon — Fri, 25 Oct 2019 11:01:21 GMT

Hi,
I'm looking into starting my own small business as a sole trader. I have read that I won't pay tax unless I make over $75,000. I'm just wondering if my spouse's income will affect that? Or would my business income be completely separate to his income?

Thanks 😊

Changing businesss name in business portal

Em79 — Fri, 25 Oct 2019 03:34:15 GMT

Hello,

I am trying to work out how I go about adding or even changing my business name on the ato business portal. I have two business names registered with the same ABN but only one shows up in the portal. I no longer use this name (but I have kept the registration as I may use it in the future) and want to change over to my new name. How would i go about doing so?

Sole trader

Downlow — Thu, 24 Oct 2019 22:39:30 GMT

Seeking clarification on what can be claimed as a deductible travel expense while self-employed. If I am travelling to a remote site away from my studio for work purposes (but I don’t stay there overnight) and I purchase a meal is it a travel expense?

sole trader - am I PSI or ???

WG — Thu, 24 Oct 2019 08:45:03 GMT

I am employed by a company full time but have also started a business doing **bleep** therapy for clients.

the question relates to the sole trader business.

last financial year, I only earnt $250 (as began late in the financial year). how do I claim all of this in the online portal? Am I PSI? I have done the tests which says I'm not but then the test continues on. I am very confused.

also Do i put my business expenses under the individual expenses or does it go with the sole trader section?

Any guidance would be greatly appreciated. I've spent hours trying to work this out.

Thank you

mygovid

playtime38 — Thu, 24 Oct 2019 02:31:02 GMT

ato tax agent portal says auskey is being removed from 1/3/20 and better get a mygovid now to avoid problems later. When going to apple store to download mygovid it says only available for iphone 6 and up and I have iphone 5, Says putting more trinkets on line and hope this means iphone5 although cant see reason for not enabling 5 as more people are using 5 than 6, What do I do - wait for ato to get act together or is there something else I can do?? Thanks for any input.

loss in online clothing business

Barry2 — Thu, 24 Oct 2019 01:03:54 GMT

Hello,

I started a home based online clothing business as a sole trader in October 2015 and ended up donating all those clothes to Red Cross in August 2017. It was a proper business, I setup an online store, took ABN and business name, bought $8500 worth of clothing from overseas in the intention of gaining profit. But ended up with no sale at all. My taxable income from working at Coles as an employee was $40,000 in that year. Since there is no sale activity, am I still eligible to offset the loss to income or defer it for later? Do I need to record it to MyTax in 2018 tax year to be able to defer in future?

Thanks in advance.