Worried you’re missing part of your refund? Remember, the low and middle income tax offset isn’t a refund on its own – it’s used to offset (or reduce) the amount of tax you pay. The offset amount you may be entitled to is automatically applied and could range between $255-$1080, depending on things like your taxable income and how much tax you’ve paid.
I understand that as a sole trader, it is not required to open a business bank account. However it's a better decision overall to do so. But if I wanted to draw out perhaps, 50-60% of the business income to my personal account so I can pay down the mortgage, will this be a normal/non taxed/transaction? I would document the income that is spent on business expenses separately to personal drawings.