Tax basics for small business

How to lodge your tax return

If you are a sole trader, you must include all your business information in your individual tax return using a Business and professional items schedule. As a sole trader, you can lodge electronically using e-tax or through your tax agent.

Using e-tax is a fast, free and secure way to lodge your individual tax return online. All you need is access to a personal computer and the internet.

When using e-tax, you are guided through an on-screen interview and your tax return is completed based on your responses. It gives you an estimate of your individual tax refund or debt. Nearly 2.5 million annual returns are lodged using e-tax and most are processed within 14 days.

To use e-tax, visit E-tax essentials.

Paper return forms (TaxPack) are available from us and from most newsagents. For business, you will also need the TaxPack supplement and Business and professional items schedule.

Partnerships, companies and trusts must each lodge separate returns.

For more information, refer to: Business and professional items (NAT 2543) Partnership tax return instructions Trust tax return instructions Company tax return instructions (NAT 0669).

Sections within Tax returns

• Lodging tax returns
• When to lodge your tax return
• How to lodge your tax return