Home – New Forums Money matters Sole Trading – What Parts Can I Claim? Reply To: Sole Trading – What Parts Can I Claim?

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I’m not an accountant but,

Harmonysweetpea, post: 203365 wrote:
I’m a psychologist and recently started contract work under an organisation. I am paid by Medicare minus the organisations percentage on client claims. I was told to become a sole trader to allow more claims,

not necessarily specifically true.. :) I guess, as opposed to being an employee, yes you can claim more.

and have been keeping track of kms travelled for appointments & any related tax deductions, such as professional indemnity insurance and registration fees etc.

good. Are you using excel, or another type of system?

I have also taken on a small writing role as a content/article creator for a website at a price per article. I am yet to get paid for this so am unsure how this looks.

On top of that I have a self-hosted wordpress blog that is lifestyle based and has some paid advertising on there (I’ve earnt $4 haha) and opportunity for sponsored posts. Long term plan is to turn it into a profitable business.

Do I identify the writing role and the blogging as ‘jobs’ also come tax time? I will be seeing an accountant this time as it will be my first sole trading but just not sure which counts? Also, would I be eligible to claim a new laptop as a business expense for my psychology role?

Sorry for such a loaded post.
You would treat it as “income” rather than a job. Your accountant will go through it all with you.

Yes – you can claim the laptop as a business expense. The accountant will identify the best way. If you havne’t got the laptop yet and would like advice or a quote, let me know :)

You can also claim the webhosting for your wordpress site provided you’re claiming any income from it (even if it’s only $4.00 – alhtough it might need a higher threshold)

consider also whether or not you need to be registered for GST – speak to an accountant and they’ll help you determine if it’s best to do this or not.

not sure on your location, but I can recommend a great accountant who helped me when i was starting out, based on Yarraville, Melbourne