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Sole Trader Accounting

Sole Trader Specialist

Sole traders are one of the easiest and cheapest ways to get started in business, but there are many legal and tax formalities which can be confusing. If you are like most tradies or sole traders, you just want to get on with what you do best, and let someone else deal with your receipts, tax obligations; GST, BAS and general paperwork?

As a small business, Start Fresh Accounting can relate, we understand that it’s hard to do everything yourself. Finding good reliable partners is also difficult.

Start Fresh Accounting, are flexible in our sole trader solutions. We can look after all your books, help you with your invoicing, BAS and be there to support you. We can be your full time accounting partner or just the typical once a year tax compliance or even somewhere in between.

Start Fresh Accounting look after many sole trader businesses from various industries, hair dressers, carpenters, electricians, home maintenance, florist’s plumbers and cake makers, just to name a few.

Sole Trader Checklist:

The following information is required to prepare your tax returns;


  • Trading Income (Fees, Sales, Contract Income, Commissions)
  • Refunds from Suppliers
  • Interest Received
  • Dividends received on Mangaed Fund Statements and Shares
  • Government Payments
  • Sale of Asset Proceeds and Dates
  • Compensation Payments
  • Foreign Income & Tax Credits

Other Documents:

  • Bank Details – BSB & Account Numbers for Refunds
  • A copy of bookkeeping file
  • Manual Cash Book
  • Business Bank Statements
  • Business Loan Statements
  • Motor Vehicle / Equipment Chattel Mortgage, Lease or Hire Purchase Contracts. Copies of any Tax Invoices for New Assets
  • Copies of Business Activity StatementsTax Invoices for New Assets
  • Copies of Staff PAYG Withholding Payment Summaries and Statements
  • Workcover Remuneration Certificate
  • Debtors (Receivables) and / or Creditors (Payables)
  • Value of Closing Stock at 30 June
  • Work Related Travel & Motor Vehicle Expenses (Log books)
  • Details of Depreciable Assets purchased or disposed during the financial year
  • Bad Debts or Prepaid Expenses
  • Superannuation Fund Intent to Claim Form
  • Superannuation Statements and Records
  • Income Protection, Life, TPD, Trauma Insurance


  • Advertising and promotion
  • Accounting / Bookkeeping Fees
  • Bank Fees
  • Cleaning
  • Debt Collection Fees
  • Filing Fees
  • Motor Vehicle – Fuel, Insurance, Registration, Repairs and Tolls
  • Electricity
  • Business Insurance
  • Interest expense
  • Legal Fees
  • Bank Fees
  • Office supplies – stationary, office equipment, printing
  • Rent expense
  • Home office – based on the amount of time spent
  • Wages paid to employees
  • Other business related expense
  • Travel & Accommodation
  • Parking
  • Parking
  • Telephone
  • Staff Amenities & Training
  • Repairs & maintenance
  • Uniforms
  • Donations
  • Workcover Premiums
  • Borrowing Expenses
  • Legal Fees
  • Consultants Fees