• Part B

    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

    Stop

    Do not show in PartB PSI amounts that were subject to foreign resident withholding. Show these at item P8.

    You need to know

    You must complete PartB of item P1 if you received PSI and you did not:

    • receive a personal services business determination in relation to your PSI
    • satisfy the results test, or
    • satisfy at least one of the other three personal services business tests (if less than 80% of your PSI came from each client).

    PSI is divided into:

    • income that was subject to a PAYG voluntary agreement to withhold tax
    • income from which tax has been withheld because you did not quote your Australian business number (ABN) to one of your payers
    • income received under a labour hire arrangement or from a specified payment
    • other PSI.

    Goods and services tax

    If you are registered or required to be registered for goods and services tax (GST), do not include any GST amounts in your assessable income. Your deductions should not include any amounts that relate to input tax credit entitlements.

    STS taxpayers

    If you have chosen to enter or continue in the STS at item S1, you must complete the income and deduction parts of item P1 using the STS rules. For information about these rules, read STS taxpayers. If you are claiming STS depreciation, you also need to complete item P10 on your schedule.

    Last modified: 01 Sep 2006QC 18499