About these instructions
Business and professional items 2020 will help you fill in the Business and professional items schedule for individuals 2020.
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.
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.
If you are required to complete the Business and professional items schedule for individuals 2020 you should lodge your tax return using myTax or through a registered tax agent.
If you are unable to use myTax or a registered tax agent, contact us on 13 28 66 and we will mail you a paper tax return and Business and Professional items schedule.
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.