Digitize your shoebox

It’s still quite common for sole traders, especially freelancers, to use the “shoebox approach” when it comes to accounting. It’s exactly what it sounds like – keeping receipts in a shoebox and then spending tedious hours going through them when it’s time to submit Business Activity Statements (BAS). Many small businesses know that their tax needs are probably pretty basic, but it’s the time and hassle required to calculate GST the old fashioned way that is frustrating. Accountants can be expensive, and the shoebox with a spreadsheet is a marriage made in hell. Let’s face it, if you’re a freelancer you’re used to working in an agile way and at your own terms. So why can’t submitting BAS be on your terms too?

Airtax takes the hassle out the quarterly grind. To go from “shoebox” to “simple” all you need is an Airtax account – provided by PwC, one of the largest accounting firms in the world, and a NAB Classic Banking account with a NAB Visa Debit Card for your business transactions.

What is Airtax?

NAB has heard from sole traders and freelancers that submitting BAS is a chore. So, we turned to PwC to offer NAB customers Airtax as a really practical solution for sole traders. By connecting a NAB Classic Banking account with PwC's Airtax, users can simplify the process of capturing and categorising business expenses enabling BAS lodgements to be completed online in minutes.

Who can use Airtax?

Airtax is aimed at sole traders and micro businesses, and was designed with freelancers in mind. So if you're a freelancer, and have 3 clients that you invoice, and only have 2-3 expenses per week (for example), then you probably don't need (yet) to pay for accounting software each month that is way over-featured, or pay thousands in accounting fees ..

With Airtax you:

  • Pay only $49 per lodgement – a cheaper solution than having your GST done by most business accountants.
  • Have all these transactions visible and pulled into the Airtax system by linking a NAB Classic Banking account– it makes the process so much easier and simpler.
  • Don’t need a complex accounting system – you’re managing things yourself digitally.

So if you’re freelancing as a ride-share driver (like Uber), a graphic designer, or a software developer for example, and you’re required to pay GST and submit Business Activity Statements (BAS) to the Australian Tax Office (ATO), then Airtax might just be your new best friend

Summary

So, are you a sole trader? Do you need to get GST-ready? Are you currently keeping all your receipts in a shoebox and dreading having to go through them all? Airtax has you covered – it’ll do all that for you for a great price. Not only that, but you’ll enjoy the benefits of a NAB Classic Banking account with a NAB Visa Debit card – no monthly account fees!

It’s really an easy and simple way for freelancers to manage their GST and take control of their finances.

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