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(excluding Primary Production)

This Tax worksheet provides for a record of income and expenses for non-primary production, business or professional income to be kept.

Also refer to Borrowing Costs.

Integration

The integration options offered are:

  • N Integrate amounts only to Business item

  • P Integrate amounts to Personal Services Business item (Form I only)

  • Y Integrate main business details to Business item

For Personal Services Businesses Only

Enter deductions against income entered previously in the worksheet that are personal services (PSI) deductions. The total will then integrate to Item P1 label K. Click this link for the Personal services business self-assessment checklist information on the ATO website.

Completing the Worksheet

This worksheet lists applicable types of business income and deductions. All amount fields allow for a grid to be attached for record keeping and dissection purposes.

Other: At fields for other income and other expenses, you provide both the description and amount. To add extra lines press [Ctrl+Insert].

Depreciation: To open the depreciation worksheet at this field press [Alt+S]. Refer to Depreciation worksheet (d).

Capital Works Deductions: To open the Capital works deduction (special building write-off) worksheet (sbw) press [Alt+S] to record the details. Refer to Capital works deductions worksheet (sbw).

Amounts from MV worksheet: At this field in Schedule B the amount integrates from item 07 Total motor vehicle expenses allocated in the Motor Vehicle worksheet (mve). Integration depends on selecting code b for NPP Income and expenses and entering the percentage to be applied. Refer to Motor vehicle worksheet (mve).

Payment Summary Schedule: For the business income in worksheet B to agree with the labels in the main return, you must enter the total of the amounts entered in the Payment Summary schedule for non-primary production labels D, B, F and O in the fields located in the worksheet above the access point to the Payment Summary schedule. To access the Payment Summary schedule from worksheet B select Y and press [Enter].