Small Business Sole Trader
Small Business Sole Trader package only $180 per month*
As a Sole Trader, you want to focus the majority of your time on building your business and relationships with clients. It seems that everything else (including tax and business compliance) is given a lower priority.
You have a goal of minimising the time you spend on these 'non-income generating activities,' and as such, you tend to leave these responsibilities until the last minute. This can be a costly mistake. As a Sole Trader, you don't have a company to hide behind, so if you make a mistake, you're personally responsible. You're also missing out on opportunities to minimise your tax burden and other essential ways to build your personal wealth.
Bizally's Small Business Sole Trader package is designed to provide Sole Traders like you with the piece-of-mind of a fixed price plan to manage your accounting, tax planning, and reporting requirements. This package also includes your Xero accounting software subscription and (for peace of mind) tax audit insurance.
Why Bizally developed this package
The ATO will be the first to tell you that 'ignorance of the rules is not a defense.' Sole Traders want to start their businesses with a minimum of fuss and build a sustainable income. You're more interested in revenue generation and only deal with other matters once they become critical. This is one of the many reasons why so many Sole Traders fail in business.
Many Sole Traders fail to act because they believe that accessing the right professional advice is beyond their reach. Bizally's Sole Traders package has been designed to support Sole Traders from day one, ensuring that common mistakes are avoided. With a fixed monthly fee, a clearly designed support package and access to the wealth and knowledge and experience provided by the entire Bizally team, Sole Traders are better positioned to plan for a successful future.
Complimentary Client Review
When you're just starting out as a Sole Trader, everything is both exciting and terrifying. It's the exact time when you need good professional advice and support. This is why Bizally extends to you the opportunity to access this support now, starting with a complimentary Client Review meeting. It's a chance to get to know each other, ask any questions you have and to see if we're a good fit for you.
The areas we like to focus on in this initial complimentary meeting are:
- Your goals for your business and your plans to achieve them
- How your business goals fit in with your personal and lifestyle goals
- The issues and challenges you face establishing your business
- How you're managing your cash flow and protecting your assets
- If you're planning to move to a Pty Ltd or other business model
Fixed Price Accounting & Compliance
If you know the price and rewards of professional services and pay monthly, you can plan and prepare for tax well in advance. Bizally's Sole Trader package makes this possible.
Bizally will prepare your year-end financial accounts and income tax returns and ensure your accounts are accurate. Bizally's tax minimisation strategies reduce your tax liability.
This service includes:
- Preparation of financial accounts including analysis and reconciliations
- Calculation of Income Tax liabilities/refunds due
- Preparation of income tax return (including schedules)
Annual General Meeting
Our Sole Traders package also provides you with an Annual General Meeting, where together we review your management reports, conduct a cash flow analysis, and discuss your tax position.
Monthly Xero Subscription
Your Sole Traders package includes your monthly Xero accounting software subscription.
One of the biggest benefits of your Bizally's Sole Traders package is that you have unlimited phone and email support. If you have a question or need advice, simply send us an email or pick up and call.