Not setting aside money to cover your tax obligations can be very stressful for sole traders come tax time. By setting money aside in your Tax Saver as you earn money, you’re less likely to get caught by surprise come tax time.

The Tax Saver allows you to set aside money for tax that you may need to pay to the Australian Tax Office (ATO). This makes it easier for you to separate between money that’s yours to spend and money that you may owe to the tax office at the end of the financial year.

Did this answer your question?