Home – New Forums Starting your journey Close to my own sole trader journey – questions / tax / etc !

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    Hey everyone –
    From my initial newbie / intro thread I have been pondering and thinking around of my personal situation and have summed up a few questions to guide me further :)
    How can a sole trader work for another sole trader ? (in NSW)

    I would like to advertise labour services and book jobs – which I would either do myself or pass the jobs onto my family and I would do it with them. I would have a vehicle or two for use.

    …these are questions about Mostly tax and charges in regards to becoming a sole trader.

    1. Can you become a sole trader and register an ABN at any time – and if not used not have any obligations tax wise etc ?

    I intend to register as a sole trader very soon and also want to register a website – and will catch up with other requirements el pronto.

    2. If I sell my time as a sole trader – IE over 80% PSI – when claiming back anything through tax does it reduce income (and thus tax paid) OR do I essentially get a % of the initial cost back ?

    I know I need to run this past an account and will – just after a general idea :)

    3. Expenses claimed as a 80% or greater PSI sole trader –
    Can I claim items or other purchased before becoming a sole trader ?
    (IE study fees or a laptop used previous to registering my ABN/etc)

    4. If I work for my family business – would they pay me as per normal employee (super/tax) or would I charge them as a contractor ?

    How is my tax paid yearly in this situation (mix of sole trader and normal employee) ?!

    Many thanks ~ Im back to studying small business management and playing with that small business online kit :)

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