P14 payments to associated persons
Did you make any payments to associated persons as a business expense?
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These are amounts, including salary or wages, commissions, superannuation contributions or allowances paid to your relatives or a partnership in which your relative is a partner.
You must also include amounts of salary or wages paid to relatives and related partnerships at G item P13 on your schedule.
You need to keep the following records:
- full name of relative or related partnership
- age, if under 18 years old
- nature of duties performed
- hours worked
- total remuneration
- salary or wages claimed as deductions
- other amounts paid - for example, retiring gratuities, bonuses and commissions.
Excessive payments to a relative or related partnership may not be deductible. The PSI rules (see item P1) also limit deductions for payments to associates.
Completing this question
Last modified: 15 Mar 2007QC 27592
Add up payments made to relatives and related partnerships from each business.
Write this amount at H item P14 on page 4 of your schedule. Do not show cents.