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D.Stevo(Newbie)Newbie
21 Aug 2024

I am a new sole trader: I got an ABN in August 2023 and started earning income then. I am not registered for GST because my sole trader income is below $75k/y.

My question: The first Activity Statement that was required of me to report was for the October to December quarter. So, how do I report the income I made in August and September?

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395 views
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Matt_ATO(Community Support)Community Support
22 Aug 2024

Howdy D.Stevo,


As a sole trader, you report your business income in your individual tax return. Since your first Activity Statement is for the October to December quarter, you won’t need to report the income from August and September in that statement. Instead, you'll include this income in your annual tax return.

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New Sole Trader: reporting early income | ATO Community