How do i pax tax on ABN

Question

i've recently started working as a contracter but not sure how to organise my tax for last year as half was as an employee........?

Answer 1

I may be wrong here, but I'll mention it anyhow.

Are you a sole trader, not a company?

If so, then you're in the same boat I was a couple of years ago and many people I talked to. I always did my own tax returns but couldn't for the life of me figure out where a sole trader fills in on the Supplementary section.

My advice, take it to an accountant, if it starts building up to a couple of years then the accountant will want several hundred dollars, but for 1 years return, you should get out of it for under 150 without a problem.

I got a computer program from the ATO called E-record, which organises everything nicely and lets you keep track of it all, making BAS's easier also.

Hope this helps.

Answer 2

Easiest way is to go to a tax agent if you don't want to deal with those complicated questions. The tax agent fee is fully rebate-able anyway.