Show download pdf controls
  • Your business income and taxes

    If you operate a business, you will need to pay income tax on money your business earns. You must lodge a tax return each year to report your taxable income or loss. The type of tax return you use depends on your business structure.

    Your tax return

    Your tax return tells us the income and deductions for your business and how much (if any) tax you've already paid.

    If you have set up your business as a sole trader, you will use your individual tax return to report this money. If you have set up your business as a partnership, company or trust, you use a different type of tax return just for your business.

    See also:

    Pay as you go (PAYG) instalments

    After you have lodged your first tax return, you may need to make regular payments towards your expected annual income tax liability if your business and/or investment income is over a certain amount. This is done by making PAYG instalments. This is different to PAYG withholding, which is about withholding tax from your workers.

    You don't need to register for PAYG instalments – we will notify you if you need to start paying instalments. However, to avoid ending up with a tax bill you may want to enter the PAYG instalments system early and voluntarily pay instalments before you lodge your first Australian tax return.

    See also:

    Last modified: 13 Mar 2017QC 51475