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WHV working as freelancer with ABN

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Newbie

Views 947

Replies 1

Hi, I'm really happy that I've found this community, it's very helpful.

I'm holding a Working Holiday Visa and I'm working as a freelance (motion designer) for different clients sending invoices using my ABN.

I should be holding 15% of all incomes until reaching $37,000. 

My clients should NOT be holding the tax because I'm responsible for that, correct?

 

Thank you very much.

1 ACCEPTED SOLUTION

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Best answer

ATO Certified

Community Support

Replies 0

Hi @rpotenza

 

Welcome to our Community!

 

If you have an ABN and you're working as a sole trader you're considered to be running a business and responsible to put aside money to pay your income tax at the end of the financial year. 

 

A sole trader pays the same income tax rates as individuals and report all your income in your individual tax return, using the section for business items to show your business income and expenses as there is no separate business tax return for sole traders. 

 

If you have further questions you can phone us on 13 28 61 between 8am - 6pm, Monday to Friday to speak with an operator. 

 

Thanks, JodieH. 

1 REPLY 1
Highlighted

Best answer

ATO Certified

Community Support

Replies 0

Hi @rpotenza

 

Welcome to our Community!

 

If you have an ABN and you're working as a sole trader you're considered to be running a business and responsible to put aside money to pay your income tax at the end of the financial year. 

 

A sole trader pays the same income tax rates as individuals and report all your income in your individual tax return, using the section for business items to show your business income and expenses as there is no separate business tax return for sole traders. 

 

If you have further questions you can phone us on 13 28 61 between 8am - 6pm, Monday to Friday to speak with an operator. 

 

Thanks, JodieH.