How to Lodge a Business Tax Return in Australia

Lodging your business tax return isn’t just a compliance task—it’s an essential step toward managing risk, maintaining financial health, and positioning your business for growth. At Origin Business Consultants, we simplify the process for you. This guide explains exactly how to lodge your business tax return in Australia, step by step.

If you’d rather focus on running your business, we’re here to help. Our Business Tax Return Services take the complexity off your plate—so you can move forward with clarity and confidence.

Quick Summary

• Your business structure determines how you must lodge your return.

• Deadlines vary by entity type—missing them can lead to penalties.

• You can lodge online, through software, with a tax agent, or by paper.

• Accurate records and compliance are key to avoiding ATO issues.

• Origin BC offers tailored support to streamline your tax return process.

Understand Your Business Structure and Tax Obligations

Your business structure shapes your tax responsibilities. Knowing how your entity is treated by the ATO is the first step in ensuring your lodgement is correct.

What Business Structures Need to Lodge a Tax Return?

• Sole Traders
  Lodge an individual tax return including a business schedule that details your income and expenses. This is typically done through myGov linked to the ATO.

• Partnerships
  Lodge a separate partnership tax return (Form P). Each partner then includes their share of the net income or loss in their own tax return.

• Companies
  Companies must lodge a company tax return and pay tax at the company rate. Reporting requirements are more complex and generally require professional support.

• Trusts
  Trustees are required to lodge a trust tax return, distributing income to beneficiaries who then report it individually.

If you’re unsure whether your business is structured correctly, our advisors can help you evaluate and adjust your setup. Visit our Business Structures page for more.

Key Steps for Lodging Your Business Tax Return

1. Gather Your Documents and Financial Information

Ensure you have:

• Profit & Loss and Balance Sheet

• Income and expense records

• Bank and credit card statements

• Payroll and superannuation data (if applicable)

• BAS summaries and GST records

If you’re managing this manually, our Bookkeeping & CFO services can help streamline your data capture and reporting.

2. Choose the Right Lodgement Method

You have four options for submitting your return:

• ATO Online Services (via myGov): For sole traders and simpler entities.

• Standard Business Reporting (SBR)-enabled software: Used by many companies and trusts.

• Through a Registered Tax Agent: Working with Origin BC gives you expert oversight and access to extended lodgement deadlines.

• Paper Lodgement: Still permitted but slower and less secure.

We recommend engaging a professional—especially if your business has grown or diversified. Our Accounting & Tax team can manage the full lodgement process on your behalf.

3. Understand Your Lodgement Deadlines

• Sole traders, partnerships and trusts: 31 October if lodging yourself.

• Companies: Often 28 February of the following year if lodged via a tax agent.

• Using a tax agent? Register with them before 31 October to qualify for agent-specific extensions.

Common Mistakes to Avoid

Missing Deadlines

Late lodgements may result in failure-to-lodge penalties and ATO scrutiny.

Incorrect Expense Claims

Only genuine business-related expenses should be claimed. Common mistakes include personal expenses or missing receipts. See our guide on Preparing Your Business for Tax Lodgement.

Inaccurate Reporting

Re-check income totals, ensure GST is correctly handled, and that deductions are substantiated.

Not Keeping Adequate Records

Under Australian law, you’re required to keep financial records for five years. Incomplete or poorly maintained records can delay processing or trigger audits.

Our Payroll and Accounts Payable & Receivable services help you stay on top of your obligations throughout the year.

How Origin BC Can Help

Experts in Business Tax Compliance

With decades of combined experience and a strong understanding of Australian tax legislation, we provide end-to-end support—whether you’re preparing your first return or managing a more complex tax environment.

Our Business Tax Return Services include:

• Tax return preparation and lodgement for all entity types

• Review of your accounting records for compliance

• Strategic tax planning to minimise liabilities

• ATO communication and correspondence

A Strategic Partner, Not Just a Service Provider

We go beyond ticking boxes. Our advisors take the time to understand your business goals and develop tax strategies that support long-term financial performance.

Let us take the weight off your shoulders—so you can focus on what matters.

Understanding how to lodge your business tax return is essential—but it doesn’t mean you have to do it alone. Whether you’re a sole trader or managing a company, we help you meet your obligations with clarity, accuracy, and confidence.

Contact us today to get tailored support for your next tax return and pave the way for stronger financial outcomes.

Disclaimer

This blog is intended for general informational purposes only and does not constitute financial, tax or legal advice. You should consult a qualified tax professional to discuss your individual circumstances.