Click label B to move to item P8 to complete the primary production income and expenses. The result of these entries is the net income or loss at item P8: label Y.

Use the Primary production income worksheet (Schedule C) to assist with completing this label. See Schedule C (primary production worksheet).

Click label C to move to item P8 to complete the Non-primary production income and expenses. The result of these entries is the net income or loss at item P8: label Z.

Use the Non-primary production income worksheet (Schedule B) to assist with completing this label. See Schedule B (business income worksheet).

This question must be answered and eligibility re-affirmed each year to be eligible for the Small business income tax offset (SBITO), and to use the simplified depreciation rules.

Press Enter at this question to open the Small Business Entity worksheet (sbe). The answer to both eligibility questions in the worksheet must be Y.

Press Alt+S at question 2 to open the Small business entity aggregated turnover worksheet (sat). You can also open the sbe worksheet from the depreciation worksheet (d). If you have done that the eligibility question will be Y or N.

Aggregated turnover for small business has been increased from $10 million to $50 million and for the SBITO, $5 million with the rate of offset 8% applied to the small business income capped at $1,000.

If you are a running a small business and have reviewed your eligibility for the current income year, you could be entitled to the small business income tax offset (SBITO)

Net Income that you've entered at item P8 for primary production or non-primary production defaulted to labels B and C will be pre-filled to the Small business income worksheet (sbb).

Any offset calculated will be included in the taxpayer’s F4 Estimate. See Small business income worksheet (sbc)- for small business tax offset (sbi). 

Click the label or press Enter at the D, W, E and F fields to open the Payment summary schedule. Refer to Payment summary schedule (PS).

• Income amounts are totalled and filter through to item P8: labels C, A, E and N.

• Tax withheld amounts are totalled and filter through to item 15 labels D, W, E and F.

This amount is the sum of entries from the Payment Summary (PS) where the Income type is B and the payment type is V.

The ATO accepts dollars and cents at label D.

This amount is the sum of entries from the Payment Summary (PS) where the Income type is B and the payment type is N.

The ATO only accepts whole dollar amounts at this label. To avoid rejection don't enter cents at label W.

This amount is the sum of entries from the Payment Summary (PS) where the Income type is B and the payment type is F.

The ATO only accepts whole dollar amounts at this label. To avoid rejection don't enter cents at label E.

This amount is the sum of entries from the Payment Summary (PS) where the Income type is B and the payment type is S.

The ATO accepts dollars and cents at label D