Business Consultant

Navigate taxes for independent consultants in Australia.

Allowable Expenses

• Professional Indemnity — Insurance to protect your consulting advice.
• Travel & Meetings — Travel to client sites and meeting room hire.
• Marketing — LinkedIn Premium and website costs.
• Home Office — Running costs for your home workspace.

Tax Tips

• Professional associations and memberships are deductible.
• Claim the business use of your mobile phone for client calls.
• If you earn over $75k, you must register for GST.
• If you receive more than 80% of income from a single client using your own skills, the ATO's personal services income (PSI) rules may restrict some deductions — check the rules before lodging your return.

Frequently Asked Questions

Is LinkedIn Premium deductible?

Yes, if used for business networking and marketing.

Do I need to pay GST?

Only if your annual turnover is $75,000 or more.

Can I claim personal superannuation contributions to a complying super fund?

Yes. As a self-employed consultant, you can contribute to a complying super fund and claim a deduction for those contributions. Lodge a 'Notice of intent to claim a deduction' form with your fund before lodging your tax return. Contributions are deductible up to the concessional cap ($27,500 for 2024/25).

How should I price my consulting day rates to account for GST?

If you are GST-registered, your day rate should include GST. Quote your fee as, for example, '$2,000 + GST'. Collect the GST from your client, report it in your BAS, and remit it to the ATO. The GST you collect is not your income — it flows through your BAS.