• Net income or loss from business this year

    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

    Use worksheet 7 and worksheet 8  to work out your net income or loss from your primary and non-primary production businesses this year, not including any non-commercial business losses deferred from a prior year.

    Completing this item

    Step 1, Transfer the amount at (h) on worksheet 7 to B item P8 on page 3 of your schedule. Do not show cents. If the amount is a loss, print L in the box at the right of this amount.

    Step 2, Transfer the amount at (p) on worksheet 8 to C item P8 on page 3 of your schedule. Do not show cents. If the amount is a loss, print L in the box at the right of this amount.

    Step3, Add B and C and write the total in the adjacent Totals column. The amount shown should not include any non-commercial business losses deferred from a prior year (which are shown at D or E - see Deferred non-commercial business losses from a prior year).

    If you made a loss from your business, print L in the box at the right of this amount.

    If the amount at B or C includes details from more than one business activity, and any one of these activities resulted in a net loss, you also need to complete items P3 and P9 on your schedule.

    Last modified: 01 Sep 2006QC 18499