P2 Description of main business or professional activity
Describe the main business or professional activity that your gross income comes from as accurately as possible – for example, beef cattle breeder, vegetable grower, clothing manufacturer, confectionery wholesaler, or electrical goods retailer.
Don't use general descriptions, such as farmer, manufacturer or wholesaler.
At P2 Description of main business or professional activity, write the description of your main business or professional activity.
P3 Number of business activities
Write at P3 – label B the number of separate and distinct business activities you operate as a sole trader and in partnership during 2024–25. If you operate only one business activity, write one (1).
The number of business activities you show at label B should not be less than the number you show at P9 Business loss activity details.
P4 Status of business
If you cease your main business during 2024–25, print X at P4 – label C1 in of your schedule.
If you commence a new business during 2024–25, print X at P4 – label C2.
If more than one option applies, only print X at P4 – label C1. If neither option applies, leave both boxes blank.
P5 Business name of main business and ABN
Write the registered business name and ABN of your main business in your schedule.
The registered business name of your main business activity should be consistent. It should only be updated when there is a name change or when it is no longer the main business activity.
If the business name is legally changed with the Australian Securities and Investments Commission (ASIC), advise us in writing at the time you make the change. Show the current business name in your tax return.
P6 Business address of main business
Write the business address (street name, suburb or town and state) of the place you conduct most of your business operations at in your schedule.
Write the postcode of this address at P6 – label D.
Continue to: Business income and expenses – P8