ato

 
 
Show download pdf controls
Show print controls

  • Did you have amounts withheld from your business income – other than PSI included at item P1?

    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

    No

    Go to Part D.

    Yes

    Read on.

    If tax has been withheld from business income you should have received a payment summary.

    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 need to complete the Individual PAYG payment summary schedule 2004 before completing item P8.

    A payer may issue a receipt, remittance or similar document in place of the Payment summary - withholding where ABN not quoted.

    If you received income from which tax was withheld and you did not receive or have lost your payment summary, contact your payer and ask for a copy.

    How to complete the individual PAYG payment summary schedule 2004

    Step 1

    Write your TFN and name in the appropriate boxes at the top of the schedule.

    Step 2

    Nature of income – Print X in the Business income box.

    Where you have both business income (item P8) and PSI (item P1) you will need to complete two separate individual PAYG payment summary schedules.

    Step 3

    For each payment summary, transfer the following information to the schedule:

    • the type of withholding – look at your payment summary carefully to determine its type and complete the TYPE box, using the following key
      V voluntary agreement
      S labour hire or other specified payments
      N withholding where ABN not quoted
    • the payer's ABN or WPN and the payer's name in the appropriate boxes
    • the total tax withheld at the Tax withheld box
    • the gross payments in the Gross payment box.
     

    Step 4

    Check that you have recorded details from all relevant payment summaries on your Individual PAYG payment summary schedule 2004 and attached the schedule to page 3 of your tax return.

    Do not attach the payment summaries to your tax return. You are required to keep them for a period of five years.

    Payers are required to report to the Tax Office details of payments where amounts of tax have been withheld.

    This information will be cross-checked with that on your tax return to ensure that you have declared the correct amount of income and the correct amount of tax withheld.

    Last modified: 18 Feb 2020QC 27547