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Most helpful replyATO Certified Response

Fluxpavillion(Devotee)Devotee
ATO Certified Response7 Oct 2021

When you start working as a sole trader you'll need to start paying your own tax. You won't recieve an activity statement until you've lodge a tax return showing that you've earned business income as a sole trader. You can voluntarily enter into what's called the PAYG I system so that you recieve a quarterly activity statement and can avoid ending up with a debt at the end of the year when you lodge your tax return. You can read about here how-to-start-paying-instalments. Another registration you might want to consider is GST. If you think you'll earn over the 75k you should register and then you'll be able to report your GST on the same activity statement https://www.ato.gov.au/Business/GST/Registering-for-GST/#Whentoregister1

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Most helpful replyATO Certified Response

Fluxpavillion(Devotee)Devotee
ATO Certified Response7 Oct 2021

When you start working as a sole trader you'll need to start paying your own tax. You won't recieve an activity statement until you've lodge a tax return showing that you've earned business income as a sole trader. You can voluntarily enter into what's called the PAYG I system so that you recieve a quarterly activity statement and can avoid ending up with a debt at the end of the year when you lodge your tax return. You can read about here how-to-start-paying-instalments. Another registration you might want to consider is GST. If you think you'll earn over the 75k you should register and then you'll be able to report your GST on the same activity statement https://www.ato.gov.au/Business/GST/Registering-for-GST/#Whentoregister1

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How do I know if I need to lodge BAS statements, I am an Individual/Sole Trader working in support | ATO Community