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PLEASE HELP....advice 4 tax return.. working in hospitality and as a com only real estate agent

Newbie

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Hi all, As tax time approaches I’m trying to figure out if I only need to submit an individual tax return or if I have to submit a sole traders as well.
 
Quick back story:
I work 3 jobs..... My retail and hospitality jobs are wage based. I am also a Real Estate Sales Agent (contracted to an agency)
 
I have not earned any commission this financial year however I needed to buy a laptop to use ($1505) and renew my salesperson registration ($175ish not including police check) for the sales contractor position and for the 2 months I was being paid a wage to help with the rental department. I also use personal mobile and home Internet for work.
 
I use the agencies platforms (lockedon/rpdata) , office Internet/printer/supplies however they do not pay me a wage only commission and was asked to set up a company so they could pay commissions by invoice. I have my full Real Estate Licence now and am trading as a contractor under ABN (not company* as its so expensive and OFT told me I did not need a company only ABN) 
 
I would like to claim back my renewal, phone/Internet and laptop purchases, Can I do this on my individual tax return or do I have to wait until I have earned an income next financial year under my ABN?
 
Thank you in advance.
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Most helpful response

Devotee

Replies 4

There is no "sole trader" tax return, it is all covered on your individual tax return

5 REPLIES 5

Most helpful response

Devotee

Replies 4

There is no "sole trader" tax return, it is all covered on your individual tax return

Newbie

Replies 3


@MCA_Accountants wrote:

There is no "sole trader" tax return, it is all covered on your individual tax return



Thank you for your help Smiley Happy

just one more question, can i claim the whole amounts as deductions or is it a percentage? If so how can I work out how much to add?

Devotee

Replies 2

Percentage based on private use vs business use. For example, you have to go through phone bills and work out # business calls vs # private calls.

 

ATO has a heap of info on it's website. Start with the 2020 individual tax return instructions

Newbie

Replies 1


@MCA_Accountants wrote:

Percentage based on private use vs business use. For example, you have to go through phone bills and work out # business calls vs # private calls.

 

ATO has a heap of info on it's website. Start with the 2020 individual tax return instructions


Thank you, am I able to claim all of my laptop purchase and licence renewal costs as its directly related to work?

Community Moderator

Replies 0

Hi @SairsLouise

 

Thanks for getting back to us.

 

@MCA_Accountants has provided you with some good information. We also suggest that you check out the 2020 individual tax return instructions.

 

The quickest and easiest way to lodge your tax return is by using our online services (via myGov). For more information about how to lodge online with myTax, have a look at our website. The myTax instructions 2020 will help you with your lodgment.

 

You can claim a tax deduction for most expenses from carrying on your business, as long as they are directly related to earning your assessable income. Refer to our website for more information about the business tax deductions you can claim.

 

Hope this helps.

 

Thanks, Chris