The Self-Employed Tax Survival Guide: 2025 Edition

Published: July 25

Running your own business and wondering how to survive tax season without breaking a sweat (or a calculator)? This guide is your secret weapon. Whether you’re a freelancer, tradie, consultant, gig worker or all of the above — if you’ve got an ABN and make business income, this blog is your business bible.

Do I Need to Complete the Business Schedule in My Tax Return?

Short answer?
If you earned income through your own ABN — yes.

You must complete it if:

• You invoice clients using your ABN.

• You run a business (full-time, part-time or side hustle).

• You’re a gig worker or freelancer (Uber, Airtasker, content creator, etc).

You don’t need it if:

• You’re only an employee (PAYG).

• You only earn from investments (shares, rent, dividends).

FAQ: “Do I need to lodge a tax return if I only earned side hustle income?”

Yes! The ATO doesn’t care if it’s a side gig — business income = declare it.

What Counts as Business Income?

If you earn money from anything that’s not wages or investments, chances are it’s business income.

Common business income examples:

• Sales of goods or services

• Freelance or consulting fees

• Gig work: Uber, DoorDash, OnlyFans, Airtasker, etc.

• Tips, commissions, barter deals, and insurance payouts

• Business grants and overseas business income

Remember:
If the ATO can data-match it, you better declare it. That includes cash, digital, barter, and the works.

What Tax Deductions Can I Claim?

The golden rule:
Only expenses directly related to earning your business income.

Examples of tax deductions for sole traders:

Need to claim tax deductions? Use our Deduction Grabber tool — it’ll make you feel like a genius: www.deductiongrabber.com.au

Records You MUST Keep (or Else!)

The ATO’s motto: No receipt, no deduction.

Must-haves:

• Receipts/invoices (snap a pic!)

• Bank statements for every payment

• Logbooks for car claims

• Diaries for internet/home office use

• 5-year record retention

FAQ: “What if I lost a receipt?”

Bank statements or invoices may help — but check with us before you push your luck.

Instant Asset Write-Off (and Depreciation Explained)

For 2025:

• You can immediately claim assets under $20,000.

• Over $20K? Claim via depreciation pool over time.

Asset traps to avoid:

• Claim only business-use %

• Make sure assets are actually in use by 30/06/25

• Don’t guess! Confirm eligibility first

FAQ: “Can I claim my laptop I bought in June?”

Yes — but only if it was in use by 30 June. Plug it in, use it, claim it.

Super Contributions for the Self-Employed

Self-employed? Super’s optional — but powerful.

• Claim up to $30,000 in personal contributions (2025 limit)

• Notify your fund with the correct form before lodging your tax return

• Pay before 30/06 to claim this year

• Use catch-up contributions if your balance is under $500K

Why bother?
You lower your tax bill now and future-you gets to sip cocktails by the beach in retirement.

Step-by-Step: How to Complete the Business Schedule

1. Add your ABN, biz name, industry code

2. Enter your gross income (before expenses)

3. List all tax deductible expenses

4. Add depreciation and super contributions

5. Include private use adjustments

6. Review stock, assets, debtors/creditors

7. Submit with confidence (or ask us to!)

FAQ: “How to lodge tax return Australia if I’m self-employed?”
Use GoTax — we automate the whole thing. You just answer easy prompts, three easy steps and let Derek do the maths.

Real Questions from Real Humans

Q: “Can I claim lunch?”

Only when you travel overnight for business. Regular lunch = no.

Q: “Can I claim Netflix?”

Only if it’s genuinely business-related. One business doco doesn’t count.

Q: “Can I claim my partner’s car?”

Only if used for business and you can prove it.

Q: “How to claim tax deductions without receipts?”

Don’t. Unless you have bank evidence or supplier records. Always best to ask us first.

Mythbusting for 2025

• “Cash jobs don’t need to be declared.” = FALSE

• “ATO doesn’t check small businesses.” = FALSE

• “I can claim my entire home as an office.” = FALSE

• “I don’t need to lodge if I made a loss.” = SUPER FALSE

Where to Get Help

You’ve got two options:

Option 1: Guess, stress, and risk an ATO audit.
Option 2: Use GoTax and let us do the thinking for you.

• Tax return Australia? Nailed it.

• Online tax return with ABN? Handled.

• Claim tax deductions like a pro? You bet.

Get started here

Snippet-Friendly Summary for Skimmers

• ABN income = complete Business Schedule

• Claim all legitimate work-related tax deductions

• Keep receipts and separate biz bank accounts

• Asset write-off = under $20K for 2025

• Make personal super contributions to lower tax

• Use GoTax: fast, smart, and stress-free online tax return Australia

Final Word from Derek

Running a business is tough. Doing your tax shouldn’t be.
Let GoTax take the stress off your back — and maybe a few bucks off your tax bill too. Our AI-powered, accountant-backed, deduction-sniffing system is here to help you finalise your tax return with ease.

Signup now and:

• Claim every possible deduction

• Complete your tax return online (Australia, we’ve got you)

• Ask unlimited tax questions and get real answers

GoTax: Australia's Smartest Tax Return
www.gotax.com.au

Small Business 

Freelancers

Note that the information provided is general in nature and subject to change, please contact one of our professionals who can evaluate your circumstances and provide more accurate advice to your current situation.