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Business and professional items 2013-14

Use these instructions to help you complete the Business and professional items schedule for individuals 2013–14.

Last updated 3 March 2016

About these instructions

Business and professional items 2014 will help you fill in the Business and professional items schedule for individuals 2014.

In these instructions, we provide information about:

  • streamlined provisions for small business entities
  • personal services income (PSI)
  • business income you must show on the schedule
  • deductions you may be able to claim.

What’s new?

The Government announced that it would make changes to small business concessions. At the time of printing these changes had not become law. Go to for information about the progress of this legislation.

Who should use these instructions?

Use these instructions if you are an individual who completed items 14, 15 or 16 on your tax return (supplementary section). You may also need to use these instructions if you have a net loss from a business activity carried on in partnership with others.

We are moving progressively to electronic methods to provide instructions and tax return lodgment options for taxpayers with more complex tax affairs. For this reason, from 2013 onwards, if you are required to complete the Business and professional items schedule you cannot lodge a paper tax return.

Publications and services

To find out how to get a publication referred to in these instructions and for information about our other services, see More information.