How to get the most out of your tax return refunds

The Quick Version

Sole Trader: You and your business are legally the same entity. Simpler to set up, cheaper to run, but your personal assets are at risk if things go wrong.

Company: Your business is a separate legal entity. More complex and costly to establish and maintain, but you get liability protection and potentially better tax outcomes.

Summary of tax changes in the budget

• Tax deductions for nurses