Free Australian Sole Trader Tax Calculator
Brought to you by TaxTank, Australian tax software that goes beyond a basic sole trader tax calculator. Track your income and deductions throughout the year while TaxTank calculates your tax position, so you can claim what you’re entitled to and know what to expect at tax time.
Sole Trader tax calculator
See how your sole trader business income, salary and deductions affect your calculated tax. Enter annual amounts in Australian dollars.
For adults who are Australian tax residents for the full year, single with no dependants. Family, pensioner and Medicare exemption rules are not included.
What this calculator includes
Resident individual income tax, low income tax offset (LITO), standard single-person Medicare levy, Medicare levy surcharge for your stated hospital cover, HELP repayment and tax payments entered. Reportable super and investment losses affect income tests, not the surcharge base. Calculations use annual whole-dollar income figures; outputs show cents and may differ from ATO assessment rounding.
It does not calculate GST, business-loss eligibility, the small business income tax offset, SAPTO, family reductions, Medicare exemptions, foreign tax offsets, private health rebate adjustments, special lump sums, FHSS adjustments or other study loan types. Business deductions above business income require a separate review and will not produce a result. Personal services income and special tax rules may change your outcome.
2026–27 Medicare low-income results are provisional and use the latest published threshold. Sources checked 12 October 2026.
- Live Bank Feeds
- Automated Transaction Allocation
- No More Guessing
- Live Tax All Year Round
Important Tax Deadlines
For all incomes earned between 01 July 2025 – 30 June 2026.
Tax returns can be lodged from 01 July 2026. You can prepare early with TaxTank so you know exactly what’s going on ahead of time.
For all incomes earned between 01 July 2024 – 30 June 2025.
Tax returns are OVERDUE.
You can use TaxTank to get up to date and lodge with our partner accountants.
Tax returns are OVERDUE.
You can use TaxTank to get up to date and lodge with our partner accountants.
A sole trader tax calculator is only the starting point
A sole trader tax calculator can give you an estimate based on the figures you enter. But your actual tax position depends on much more than your business income alone.
TaxTank brings together your actual sole trader income and deductible business expenses with your employment income, other income, personal deductions and investments to calculate your overall individual tax position.
As your income and expenses change throughout the year, TaxTank recalculates your tax position, helping you see what you may actually owe and how much you may need to put aside for tax.
More than a basic sole trader tax calculator
Most sole trader tax calculators give you a one-off estimate based on the income figures you enter.
But your actual tax position can be affected by much more than your sole trader income. Your business expenses, PAYG salary, other income, personal deductions, investments and applicable tax offsets can all affect the final result.
TaxTank brings your tax information together and applies Australian tax rules to calculate your overall individual tax position throughout the year.
So instead of simply estimating a percentage of your business income, you can see what you’re actually earning, what you can claim and how much tax you may need to set aside.
- How much tax should I set aside?
- What can I claim?
- Is my sole trader business actually profitable?
- What happens if my income keeps growing?
- Am I going to get a tax bill?
Most people don’t need more bookkeeping.
They need better visibility.
Most software tracks income, TaxTank calculates the sole trader tax outcome
A clean dashboard doesn’t mean your tax is right.
Most tools stop at tracking activity.
TaxTank does the heavy lifting behind the scenes so your tax outcome is correct from day one.
Typical setup
- Separate calculators
- Multiple spreadsheets
- Manual calculations
- Separate salary and side hustle records
- End-of-year surprises
- Transaction tracking
- Guessing deductions
TaxTank
- One live tax position
- One platform
- Automated sole trader tax calculations
- ATO-aligned tax treatment
- Updated tax estimates
- Tax tracking
- Structured deduction tracking
Sole trader tax isn't just a percentage of your income
One of the biggest mistakes sole traders can make is assuming they can simply put aside a fixed percentage of every payment for tax.
Your actual tax position depends on your business profit after eligible deductions, together with your other taxable income and deductions.
TaxTank continuously recalculates your tax position throughout the year, helping you see what you may actually owe based on your financial position, rather than relying on a basic percentage or estimate.
You don't need another basic sole trader tax calculator
You need to know how your business actually affects your tax.
TaxTank brings your sole trader income and expenses together with your other personal income and deductions to calculate your tax position throughout the year.
It's easy to get started!
Getting started with TaxTank is simple and affordable.
For just $9/month, you get access to the best sole trader tax software that lets you manage your sole trader income and tax.
- Free Trial
- No Credit Card Required
- Cancel Anytime
SOLE TANK
Simply add Sole Tank so you can manage your sole trader tax in one simple platform.
$9/month*
Paid Annually
What people say about Australia’s first purpose built tax software that calculates individual tax in real time
The online support has been phenomenal, thank you Nicole. Everything was explained to me in an easy to understand manner.
It's a breeze to navigate and that's coming from someone who's genius zone is with people not on computers. I recommend them to everyone.
Frequently asked questions
What is a sole trader tax calculator?
A sole trader tax calculator helps estimate how much tax you may pay on your sole trader income. TaxTank’s free calculator lets you enter your income and business expenses to estimate your taxable income and tax position.
How much tax will I pay as a sole trader?
Sole traders don’t pay a separate business tax rate. Your business profit forms part of your individual taxable income, so the amount of tax you pay depends on your total income, eligible deductions and individual circumstances.
How do I calculate tax on my sole trader income?
Your taxable sole trader income is generally based on your business income less eligible business deductions. Because you are taxed as an individual, other income and deductions can also affect your overall tax position.
Does a sole trader tax calculator include business expenses?
Yes. Our sole trader tax calculator allows you to include business expenses when estimating your taxable sole trader income. Eligible deductions reduce your business profit and can therefore affect the amount of tax you may need to pay.
How much tax should I put aside as a sole trader?
There isn’t one percentage that works for every sole trader. The amount you may need to put aside depends on your business profit, other taxable income and deductions. TaxTank calculates your tax position throughout the year, helping you see how much tax you may need to allow for as your figures change.
Can I use a sole trader tax calculator if I also earn a salary?
Yes. If you have both PAYG employment and sole trader income, both contribute to your overall taxable income. TaxTank can bring your employment income, sole trader business and other tax information together to calculate your overall individual tax position.
What's the difference between a sole trader tax calculator and TaxTank?
A basic sole trader tax calculator provides an estimate based on the figures you enter at that point in time. TaxTank goes further by tracking your actual business income and expenses alongside your other income and deductions and recalculating your tax position throughout the year.
Is TaxTank's sole trader tax calculator free?
Yes. You can use the online sole trader tax calculator for free. If you want to go beyond a one-off estimate, TaxTank offers a free 14-day trial with no credit card required, so you can track your actual income, expenses and calculated tax position throughout the year.
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