For employees with a side business
Yes, you can be an employee and a sole trader at the same time. 2Fin keeps both in one place: each expense tagged to your job, your business or private life, and one estimate across salary and business profit in Australia, the United Kingdom, Canada and India.
Tag each transaction to your job, your business or your private life, and split one payment across them — a phone bill that is part work, part business and part yours. The job’s claims and the business’s claims never mix.
In Australia, the United Kingdom, Canada and India, Fin adds your salary, your sole-trader profit and any net rental income, takes off the tax withheld from your pay — and your job’s work-related deductions in Australia and Canada — and shows a projected refund or amount owing. Nothing is withheld from business income as you earn it, so that part shows as still to pay. In the United States the estimate runs on one kind of income at a time. Live on ELITE+ (US$42/month); a sheet in the accountant pack on Premium.
GST or VAT is captured on each business transaction from the rate on record, in every country that has one. On ELITE+ the activity statement is drafted label by label where 2Fin has the form — the BAS in Australia, the VAT return in the UK, GST34 in Canada, GST101A in New Zealand, GST F5 in Singapore — with a source on each figure. In India only GSTR-3B’s sales table (3.1(a)) is filled; input tax credit and the other tables are yours to complete. You review it and lodge it; your salary and work expenses stay out of it.
Tools for the job follow your country’s employee rules. Equipment for the business goes on the asset register with its own depreciation — the authority’s own regime in Australia, New Zealand, the UK, Canada, the US, India, Singapore and South Africa, and prime cost or diminishing value over a life you enter elsewhere. Fin keeps each purchase on the side it belongs to.
Add your job and your business as separate activities at home, each with its own hours. In Australia each side picks the fixed rate or actual costs; in the UK, the US, Canada, New Zealand and India Fin asks the questions that decide the claim and shows the official guidance, flat rates stated rather than applied.
Keep invoicing in your own tool. Record what a client owes and Fin links the payment when it arrives — automatically when the amount and the payer match exactly, otherwise it asks. Free on every plan.
Where 2Fin’s support for a PAYG job and an ABN runs deepest. The four below exist nowhere else in the app yet, so they are not promised above.
The estimate projects PAYG withholding to 30 June, adds your business profit and any net rental income, and brings in the Medicare levy, the low income tax offset and HELP.
On ELITE+ the activity statement is drafted label by label — G1 to G20, 1A and 1B — from the business side only, with a source on each figure. You review it and lodge it.
Each work expense carries a suggested D1 to D15 line in the myDeductions export and the accountant ledger, while business expenses stay off those labels.
Business equipment follows the ATO rules — effective life, the instant asset write-off threshold in force that year, the small business pool — while the job’s tools follow the $300 employee rule.
Where the Australian rules differ between the job and the business. General information only — confirm your own position with a registered tax agent.
| Item | As an employee | On your ABN |
|---|---|---|
| Tools and equipment | Items of $300 or less claimed that year; dearer ones over their effective life | Depreciated, or written off where a small business write-off applies that year |
| GST | Nothing to claim | Credits on the BAS once you are registered for GST |
| Phone and internet | The work share, at D5 | The business share, as a business expense |
| Car | Job trips at D1: logbook or cents per km | Business trips as a business expense, same two methods |
| Working from home | Fixed rate or actual costs, at D5 | Running costs; occupancy only for a genuine place of business |
| Tax during the year | Withheld from each pay | Nothing withheld; PAYG instalments if the ATO puts you in the system |
A tax treatment on each category sends every business line to its own activity-statement label, with a source on each figure, while your job’s expenses never touch the statement.
A tub of Chobani yoghurt became taxable purely because it came with a separate pouch of cookie and white-chocolate pieces — making it a 'combination food'.
In a 16 June 2023 ruling the Administrative Appeals Tribunal sided with the Tax Commissioner that Chobani's Flip Strawberry Shortcake yoghurt, sold with baked cookie and white-chocolate bits, was a taxable combination food rather than GST-free plain yoghurt.
The tax helped wreck the ruling party: months after the 3% tax launched, the LDP lost its Upper House majority for the first time in the July 1989 election, with tax anger compounding the Recruit bribery scandal that had already forced Takeshita to resign.
It was the first time the Liberal Democratic Party lost the popular vote in a national election since its 1955 founding (the vote was held 23 July 1989).
2Fin is free to start. Premium is US$23 a month (US$222 a year), ELITE+ is US$42 a month (US$432 a year) and AUTO+ is US$54 a month (US$555 a year), billed in US dollars.
Hover, tap or tab to any underlined feature to learn more.
For getting every record in one place, at no cost.
Included
For employees and sole traders who want every deduction found and the busywork done.
Everything in Free, plus
For businesses and accountants who lodge, report and keep the books.
Everything in Premium, plus
For owners who want receipts and reports to arrive on their own.
Everything in ELITE+, plus
Swipe to see every plan
| Feature | FREEUS$0 | PREMIUMUS$23 / month | ELITE+US$42 / month | AUTO+US$54 / month |
|---|---|---|---|---|
| Capture | ||||
| Statement uploads into bucketsCSV, Excel or PDF. On the free desktop app, statements come in through the CSV import instead | Included | Included | Included | Included |
| Live feeds from your own sheet or bank-feed accountA Google Sheet, or a provider account you hold such as SimpleFIN or BankSync | Included | Included | Included | Included |
| Photo and PDF receipts, read and matchedRead in the language they are printed in | Not included | Included | Included | Included |
| Forward receipts by email | Not included | Not included | Not included | Included |
| Organise | ||||
| Transactions, categories and bills in one placeIncluding recurring payments | Included | Included | Included | Included |
| Budgets against what you actually spent | Included | Included | Included | Included |
| Travel and vehicle trips | Included | Included | Included | Included |
| Properties: what each one really costsRented, business and private parts | Included | Included | Included | Included |
| Automatic categories | Not included | Included | Included | Included |
| Your own categorising rules | Not included | Included | Included | Included |
| Spending and bills analytics | Not included | Included | Included | Included |
| Views by project, client or tax purposeCalled Lenses in the app; the Properties lens is built in on every plan | Not included | Not included | Included | Included |
| Tax | ||||
| Tax analysis that knows your situation | Not included | Included | Included | Included |
| Tax exports, including ATO myDeductions | Not included | Included | Included | Included |
| Tax reports and summaries | Not included | Not included | Included | Included |
| BAS, VAT and GST statements | Not included | Not included | Included | Included |
| Asset register, depreciation, profit & loss and TPAR | Not included | Not included | Included | Included |
| Property write-offs and scheduleDepreciation, capital works, a schedule for your accountant | Not included | Not included | Included | Included |
| Automate | ||||
| Ask Fin about your money | 25 messages a month | Unlimited | Unlimited | Unlimited |
| Fin reads the files you upload | Not included | Included | Included | Included |
| Fin, your assistant, with its own workspace | Not included | Not included | Included | Included |
| Your week in review, on the dashboard | Included | Included | Included | Included |
| Signed webhooks for Zapier, Make and n8n | Not included | Not included | Not included | Included |
| Reports emailed on the schedule you set | Not included | Not included | Not included | Included |
| Share | ||||
| Push to Google Sheets, Excel, Notion or AirtableBank-feed data stays out of every push | Not included | Not included | Included | Included |
| Send transactions to Xero or QuickBooks OnlineCoded, with the receipt attached | Not included | Not included | Included | Included |
| Practice workspace for accountantsYour clients can be on any plan | Not included | Not included | Included | Included |
| Connect Claude or ChatGPT, with the access you approveWhat they can read follows your plan | Included | Included | Included | Included |
| Desktop app, with your data on your machine | Included | Included | Included | Included |
Enterprise-grade data control is the default here — on every plan.
Your records can stay on your own machine or in your own cloud, telemetry stays off unless you turn it on, and Fin keeps an auditable record of everything it sends. Enterprise adds the people and the paperwork: dedicated support, custom deployment and reviews for large-scale operations.
Verify it yourselfYes. Plenty of people have a job and a business in the same year, and in Australia, the United Kingdom, Canada and India alike you still lodge one individual return: your salary goes in as usual, your business income and expenses go on the business schedule or pages, and tax is worked out on your total taxable income. Your employer’s withholding only covers your pay, so the tax on business profit is usually still to pay at the end of the year. 2Fin helps you find and organise potential deductions; always confirm what applies to you with your accountant or tax authority.
No. In 2Fin each transaction is tagged to your job, your business or your private life, so one account holds both sides without mixing them. The business side gets GST or VAT per transaction and, on ELITE+, the activity statement where 2Fin has your country’s form; the job side gets its work-related deductions, with a suggested myTax line in the export in Australia; and in Australia, the UK, Canada and India the estimate adds the two together.
Your business profit is added to your salary, so it is taxed at your marginal rate — the rate on your top dollars. Only the income that falls inside a higher bracket is taxed at that higher rate, not your whole income. The free income tax calculators show your marginal rate, and in the app the estimate shows the tax across your salary and your business together. 2Fin helps you find and organise potential deductions; always confirm what applies to you with your accountant or tax authority.
That depends on your country’s threshold and on your business turnover alone — your salary never counts towards it. In Australia it is $75,000 of GST turnover a year, or straight away if you drive for a ride-sourcing platform; the UK, Canada and India each set their own figure. Below the threshold you can usually register by choice, and once registered you report on the activity statement. Fin captures GST or VAT on each business transaction either way. 2Fin helps you find and organise potential deductions; always confirm what applies to you with your accountant or tax authority.
Nothing is taken out as you earn it, so it pays to set money aside. Once a return shows enough untaxed income, most authorities ask for payments through the year — PAYG instalments in Australia, payments on account in the UK, instalments in Canada, advance tax in India. In 2Fin the estimate shows the tax on untaxed income as still to pay; instalments you have already paid are not counted in the estimate yet. 2Fin helps you find and organise potential deductions; always confirm what applies to you with your accountant or tax authority.
Yes. Tagging each expense to the job, the business or private life, GST or VAT per transaction, the asset register, expected income and the exports work in all 88 countries you can choose. The combined estimate runs in Australia, the UK, Canada and India (the US estimate takes one kind of income at a time); the activity statement is drafted in Australia, the UK, Canada, New Zealand and Singapore, and in India GSTR-3B’s sales table (3.1(a)) only; the BAS itself, the D1–D15 lines and the working-from-home fixed rate are Australian only.
Start free: transactions, categories, bills, Upcoming, expected income and statement uploads are on every plan. Premium (US$23/month) adds receipts, automatic categories and the tax exports. ELITE+ (US$42/month) adds activity statements and the live tax estimate across both incomes.
One account, two lives, already sorted
For freelancersKnow what’s yours to keep, every month
For contractorsEvery job costed by the time you’re home
For tradiesThe glovebox receipts, already sorted
For small businessMonth-end that’s already done
For growing businessesOne set of transactions, sliced every way that matters
For studentsMoney that still exists in week four
For creatorsEvery payout in one number, gear and all
For artists & musiciansThe gig fee, the gear, the agent’s cut
For rideshare & delivery driversEvery shift adds itself up
For accountants and bookkeepersRead-only client summaries, every read logged; year-end in one pack
For employeesWork expenses found, your refund in view
For property investorsKnow what every property really costs you
Let Fin handle the busywork while you get on with what matters.
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