business will operate out of your home at 7 Mountview Road, Tyagarah NSW 2483. You will operate as a sole trader and offer services to residential customers, charging an hourly rate of $50. Your financial projections show that your annual income will be approximately $80,000. If the business grows you may contract others to assist you, but for the time being you expect that you will be the only person involved in the business. You write invoices for all jobs that you undertake in an invoice book and collect the invoices for all work-related payments that you make. You also keep a running record of all these work-related transactions that you make. You record this in a notebook that you carry with you to and from every job. You want to do as much of the business' bookkeeping as possible yourself, but you are unsure of the taxation requirements that apply to you. You recently contacted a BAS agent to help you with