Sole Trader / Small Business Tax Action Plan (Australia)
Tell us your structure, revenue, and a few situation flags. We'll rank the self-employed tax actions that apply to you across the year — ordered by deadline urgency × dollar impact — and link you to the calculators that work each lever.
The government co-contribution is tested on your total income and on your age at 30 June — not on business profit alone. Leave these blank and the plan will show the co-contribution as a check to do, not as money you can count on.
Tax Buffer Setup
OngoingWhy: Sole traders aren't taxed at source. With $52,000 net profit, you'll owe ATO roughly $16,640 at lodgement.
Do: Open a separate "tax buffer" account and transfer the recommended share of every invoice into it.
profit × combined marginal × 1.05 buffer factor.
Instant Asset Write-Off
30 Jun 2027Why: As a sole trader, an asset under $20,000 bought and ready for use before 30 Jun is fully deductible this year.
Do: Buy and install the asset before 30 June; keep the tax invoice and first-use date evidence.
IAWO threshold $20,000 × your marginal rate
Personal Deductible Super
30 Jun 2027Why: Sole traders don't get employer SG. Up to $32,500 of personal-deductible super each year saves the gap between your marginal rate and the 15% super tax.
Do: Make a personal super contribution via your fund and submit a Notice of Intent before 30 June.
Cap $32,500 × (your marginal 32% − 15% super tax)
PAYG Instalment Variation
28 Oct 2026 (BAS Q1)Why: If you've received an ATO PAYG instalment notice based on a higher prior-year profit, varying it before BAS Q1 can free up working capital.
Do: Estimate this year's tax via the linked insight; if your projection is materially below the ATO instalment, lodge a variation in your BAS.
Illustrative cash release = profit × ~20% overpay × combined marginal rate.
BAS Quarter Deadline
28 Oct (BAS Q1)Why: BAS Q1 is due 28 Oct. Estimated GST owed this quarter ≈ $1,818.
Do: Reconcile sales / purchases in your bookkeeping; lodge BAS via myGov / tax agent on time to avoid late-lodgement penalties.
Quarterly GST owed ≈ (annual gross / 4) × 1/11.
Income Protection Prepay
30 Jun 2027Why: Income protection premiums are immediately deductible. Prepaying next year's premium before 30 Jun brings the deduction into this year — saving ~$384.
Do: Contact your insurer about prepaying the next 12 months of income protection cover before 30 June. Confirm policy held in your own name (not through super).
Illustrative: $1,200 premium × 32% marginal rate.
Worth checking — not counted above
These depend on facts this short plan hasn't been told, so no dollar value is claimed for them.
Super Co-Contribution
30 Jun 2027Why: Net business profit $52,000 is inside the co-contribution income range, but eligibility also turns on your age at 30 June, your income from outside the business, whether you meet the visa, tax-return, total-super-balance and non-concessional-cap conditions — none of which this plan has been told.
Do: Answer the co-contribution questions (age at 30 June, income from outside the business, eligibility conditions) or open the full calculator before counting on a government match. A personal contribution you claim a tax deduction for is concessional and does NOT count.
Eligibility (ATO QC 17469): a personal after-tax (non-concessional) contribution made by 30 June, under 71 at year end, both income tests passed, no temporary visa during the year (New Zealand citizens and prescribed visas excepted), tax return lodged, total super balance under the general transfer balance cap at the previous 30 June, and non-concessional contributions within the cap. Entitlement: 50c per $1 contributed, capped at $500 up to total income of $49,293, reducing evenly to nil at $64,293; a positive amount under $20 is paid as the $20 statutory minimum, and payments round up to the next 5 cents. A personal contribution you claim a tax deduction for is concessional and earns no co-contribution.
Super co-contribution eligibility
- Age at 30 JuneNeeds confirmation
- Add your age at 30 June to confirm you are under 71.
- Income-threshold test (total income)Needs confirmation
- Add your income from outside the business to confirm your total income is under the cutoff.
- 10% eligible-income test (business/employment share)Needs confirmation
- Add your income from outside the business to confirm at least 10% of your total (undeducted) income is employment or business income.
- Visa, lodgment, balance & cap conditionsNeeds confirmation
- Confirm you meet the visa, tax-return, total-super-balance and non-concessional-cap conditions — a single grouped, self-reported confirmation, not four separately verified checks.
Overall: needs confirmation. Still unresolved: your age at 30 June, your income from outside the business, whether you meet the visa, tax-return, total-super-balance and non-concessional-cap conditions.
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Tax Accuracy & Sources
Reviewed: March 2026 · Tax year: 2026-27
This calculator is an estimate tool and may not cover all personal circumstances. For state-based taxes, confirm details with your state or territory revenue office.