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  • Introduction

    This publication is available free of charge from the Australian Taxation Office (ATO) which prohibits any party from selling it.

    Please get help from the ATO-the Small Business Infoline number is 13 28 66-or a tax adviser if you feel this publication does not fully cover your circumstances.

    We regularly revise our publications to take account of changes to the law. As part of our commitment to produce accurate publications, taxpayers will not be penalised if it is demonstrated that a tax claim was based on wrong information contained in our publications.

    For your information

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    If you need to complete item 13, 14 or 15 of your tax return (supplementary section), you must fill in the 2003 business and professional items schedule. These instructions will help you to fill in the schedule. If the business or professional items that apply to you are not filled in, your tax return will be sent back to you.

    If your tax return and completed schedule are lodged late, you may be liable for a penalty. For information on penalty for failure to lodge on time, see page 8 in TaxPack 2003 (NAT 0976-6.2003).

    If you are a partner, you may need to complete items P3 and P9 of the 2003 business and professional items schedule. This will be where you have a net loss from a business activity carried on in partnership with others [refer to the instructions for item 12 of your tax return (supplementary section)]. Do not include your partnership details at any other item on your schedule.

    If you received any of these payment summaries:

    • Payment summary-withholding where ABN not quoted
    • Payment summary-voluntary agreement
    • Payment summary-labour hire and other specified payments

    you will also need to complete the Individual PAYG payment summary schedule 2003. These instructions will help you fill in the schedule.

    The ATO publishes its rulings and other material to help taxpayers comply with their taxation obligations. We refer to a number of these publications here and it may help you to read some of them.

    You can get copies of the ATO's rulings and publications by:

    • ringing 1300 720 092 for the cost of a local call*
    • visiting the ATO
    • visiting the ATO website at www.ato.gov.au

    * Please note that calls from mobile phones are charged at mobile call rates.

    How many hours did it take you to prepare and complete this schedule?

    The ATO is committed to reducing the costs involved in complying with your taxation obligations. Your response to this item will help us monitor these costs as closely as possible.

    Write the number of hours taken to prepare and complete this schedule at S in the Taxpayer's signature block on your schedule.

    When completing this item consider the time, rounded up to the nearest hour, that you spent:

    • reading the instructions
    • collecting the necessary information to complete this schedule
    • making any necessary calculations
    • completing the schedule
    • putting the tax affairs of your business in order so the information can be handed to your tax agent.

    Your answer should relate to the time your business spent preparing and completing your schedule, including the time spent by your tax agent and any other person whose assistance you obtained.

    Last modified: 16 Jun 2006QC 27476