Sole Trader Tax Return Appointment
Northern Accountants prepares and lodges sole trader tax returns starting from $330 at our Casuarina and Palmerston offices. Our registered tax agents claim all eligible business deductions under the $20,000 instant asset write-off, motor vehicle logbook rules, and ATO Personal Services Income (PSI) guidelines.
Sole Trader Tax Inclusions & ATO Strategy Alignment
Sole traders face rigorous scrutiny from the ATO regarding personal versus business expense splits and PSI classification. Northern Accountants structures your business tax schedule to claim every allowable deduction while maintaining complete substantiation compliance.
- Business Income Schedule (Item P8): Complete calculation of gross trading income, cost of sales, contractor expenses, and net profit or loss.
- $20,000 Instant Asset Write-Off: Immediate 100% deduction for eligible tools, machinery, computer hardware, and equipment first installed in the financial year.
- Motor Vehicle Calculations: Verification of logbook percentage versus cents-per-km method (85c/km) to calculate vehicle running, insurance, fuel, and depreciation deductions.
- Home Office Revised Fixed Rate (70c/hr): Compliant claiming of electricity, internet, mobile phone, and stationery costs with required diary evidence.
- Personal Services Income (PSI) Assessment: Application of statutory tests to ensure contractor income complies with Division 84–87 anti-avoidance rules.
- Zone A & Sole Trader Offset Integration: Simultaneous calculation of the Northern Territory Zone A remote tax offset and Small Business Income Tax Offset (up to $1,000).
What to Bring to Your Sole Trader Consultation
To allow our accountants to prepare your sole trader return quickly and efficiently, please bring or provide the following business records.
- Summary of total gross business income, bank statements, or Xero/MYOB profit and loss reports.
- Invoices and receipts for business purchases, raw materials, subcontractor payments, and trade supplies.
- Motor vehicle logbook records or annual business kilometre estimates.
- Home office diary recording hours worked from home across the financial year.
- Details of any equipment or tools purchased costing over $300.
- Superannuation fund contribution statements and Section 290-170 confirmation notices.
How Our 3-Step Sole Trader Process Works
We make sole trader compliance stress-free so you can focus on operating your business across Greater Darwin, Palmerston, or rural NT.
- Step 1: Reserve Your Session — Book directly online via our online calendar, or phone Casuarina on 08 8941 3900 or Palmerston on 08 8932 8004 to book your consultation with an agreed upfront price from $330.
- Step 2: Business Deduction Audit — We review your income, test PSI criteria, apply asset write-offs, and optimise motor vehicle and home office claims.
- Step 3: Direct Electronic Lodgement — We lodge your return directly with the ATO, delivering full electronic documentation, payment advice, and tax summaries.
Client Reviews and Direct Office Contact
5 out of 5 stars"Kash is a skilled professional with expert knowledge of Territory tax rules. Everything was lodged quickly with zero hassle."
5 out of 5 stars"Super friendly, efficient and good at what they do. Transparent fixed pricing means no nasty surprises when you get your return."
Fixed-price tax returns from $169 · Registered Tax Agents · No surprise hourly fees
Frequently Asked Questions for Sole Traders
Essential advice on business expenses, vehicle logbooks, super contributions, and PSI rules.
How does the $20,000 instant asset write-off work for sole traders?
Eligible small businesses with aggregated turnover under $10 million can immediately deduct the business portion of qualifying depreciating assets costing less than $20,000 that are first used or installed ready for use within the relevant financial year.
What is the difference between logbook and cents per kilometre methods?
The cents per kilometre method allows claiming up to 5,000 business kilometres at 85 cents per km (for 2024–25) without maintaining written receipts. The logbook method requires maintaining a valid 12-week logbook and tracking all actual fuel, servicing, registration, and depreciation expenses, which often yields a substantially higher deduction for heavy vehicle use.
How do I know if the Personal Services Income (PSI) rules apply to me?
If more than 50% of the income you receive from a contract is for your personal skills, knowledge, or labor, it is classified as PSI. We assess the ATO Results Test, 80% Rule, and Unrelated Clients Test to ensure compliance and determine whether deductions like home office or associate payments can be claimed.
Can sole traders claim a tax deduction for super contributions?
Yes. You can make personal concessional contributions to your complying super fund up to the annual concessional cap ($30,000 for 2024–25) and claim a full tax deduction, provided you lodge a formal Notice of Intent (Section 290-170) before completing your tax return.