You need to categorise and submit your income and expenses under specific labels in the tax return. It’s important to use the correct label when filling in the tax return to avoid processing delays or auditing actions. 

To do this, you use the figures that were recorded in your chart of accounts or spreadsheet, and input these into the corresponding labels of the tax return.

From the 2026 income tax year, pre-fill will be available to sole traders completing their tax return.

Income that will pre-fill includes payments you’ve received which have been reported on a taxable payment annual report (TPAR), and assessable payments and grants received from the Australian Government.

Other pre-fill items include:

• your Australian business number (ABN)
• the value of your opening stock (if any).

Most TPAR data will only be available after 28 August each year, so if you lodge in July or early August the information may not appear.