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How Does Tax Work as a Sole Trader | Tax on Your Side Hustle

Have you started a small side hustle business or has your small sole trader business become bigger? It is important to understand the basics of how tax works as a sole trader here in Australia. In this video, I go through the basics of tax as a sole trader on your small business or side hustle. — Do you operate as a sole trader? --- 📺 Subscribe to this channel - https://www.youtube.com/c/ethanroosho... --- 🎓 My “How to Start a Business in Australia” Course - https://ethanrooshock.mykajabi.com/ho... --- 🔥 Join Our Discord! The Rooshocks Discord allows me to answer questions about Business, Tax, Crypto and NFTs. It’s also the place where you can get up to date information on my NFT project, Rooshocks! -   / discord   --- 💰 My Accounting Business - https://rooshockaccounting.com.au/ — 🖼️ My NFT Project, Rooshocks - https://rooshocks.xyz/ — 💼 How I Track My Crypto Investments for Tax Time Crypto Tax Calculator - https://cryptotaxcalculator.io?fpr=xo5ak (Get 20% Off using the code BFF2020) Koinly - https://koinly.io/?via=9B29D87A (Get 25% Off using the code 9B29D87A) CoinTracking - https://cointracking.info?ref=E484421 --- ✏️ How I Track My Investments for Tax Time - https://portfolio.sharesight.com/refe... --- ✍ Personal Finance Blog - https://ethanrooshock.com/ --- 📖 Chapters 0:00 Sole Trader and Side Hustle Taxes 0:40 The Basics 2:50 How to Calculate Your Sole Trader Taxes 4:01 How to Track Your Sole Trader Taxes 4:35 How Do You Pay Yourself 5:50 Bonus Tip --- Ethan 'Rooshock' (Rucioch) is an Australian business owner in his late 20's. He is the owner and director of Rooshock Accounting, an accounting firm. He is also the creator of an NFT project, Rooshocks. In his spare time, he enjoys travelling, spending time with his family and watching countless hours of sport. On this channel you will find a range of different content, including personal finance, business advice, tax tips, crypto tax tips, NFT discussions and even Ethan analysing some popular TV show businesses from an accountant’s perspective. --- CONNECT WITH ME HERE: 👍 Facebook -   / ethan-rooshock   📷 Instagram -   / ethanrooshock   🐦 Twitter -   / ethanrooshock   🎵 Tik Tok -   / ethanrooshock   💼 LinkedIn -   / ethan-rucioch-037b44a3   ✉ Email - [email protected] --- Music - https://www.bensound.com --- Disclaimer Every effort has been made to ensure that the information in this video is accurate. The information in this video and on this YouTube channel is for entertainment and general information purposes only. It should not be taken as constituting professional advice. You should not rely on it as financial, legal or tax advice. There are always risks in any financial decision and all decisions should be made on an individual basis. You should conduct your own research and seek independent professional advice where needed. Some of the links in this video or video description may be affiliate links. Ethan Rucioch, Rooshock Enterprises Pty Ltd, Rooshocks NFT Pty Ltd or any other related party may receive a commission through these. --- #soletrader #sidehustle #australiataxes