Tax Return with ABN Income

If you earn income through an Australian Business Number (ABN) as a sole trader, contractor or freelancer, your tax return works a little differently to that of a regular employee. Rather than having tax withheld automatically, you are responsible for reporting your business income and paying the tax you owe at the end of the financial year. MAGA Accounting makes this simple. We can help you with:

Reporting your ABN income: We accurately record all income earned under your ABN and make sure it is correctly declared in your tax return.

Claiming your deductions: We identify the business expenses you are entitled to claim, from tools and equipment to vehicle, home office and other running costs, to reduce your taxable income.

Managing PAYG instalments: We help you understand and plan for any pay-as-you-go instalments so there are no surprises at tax time.

Keeping you compliant: We make sure your return meets all ATO requirements and is lodged accurately and on time.