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P14 Did your business make any payments to related entities?

Last updated 28 April 2003

No-Go to item P15.

Yes-Read on.

What you need to know

These are amounts, including salary or wages, commissions, superannuation contributions or allowances paid to related entities. A related entity is defined in section 26-35 of ITAA 1997. Related entities include your relatives or a partnership in which your relative is a partner. Amounts of salaries or wages paid to related entities should also be included at G item P13 on your schedule.

You need to keep the following records:

  • full name of related entity
  • age, if under 18
  • relationship
  • nature of duties performed
  • hours worked
  • total remuneration
  • salary or wages claimed as deductions
  • other amounts paid-for example, retiring gratuities, bonuses and commissions.

Excessive remuneration paid to a related entity may not be deductible.

Step 1

Add up payments made to related entities from each business.

Step 2

Write the amount at H item P14 on your schedule. Do not show cents.

QC27384