Following is a list of the documents and information we usually need to process a private ruling request or objection about whether or not you are carrying on a business.
Your request will be processed faster if you provide us with the supporting information listed. If you've previously provided it, you don't need to provide it again.
Note: There are more specific requirements for private ruling requests or objections about whether or not you are carrying on a business in the following circumstances:
- Carrying on a business of letting rental properties – supporting information
- Carrying on a business of providing short-term accommodation – supporting information
- Are you in business?
- Shareholding as investor or share trading as business?
- Changes to company tax rates
- TR 2019/1 Income tax: when does a company carry on a business?
- This Ruling sets out guidance on when a company carries on a business within the meaning of ‘small business entity’ in section 23 of the Income Tax Rates Act 1986 as applicable in the 2015–16 and 2016–17 income years and section 328-110 of the Income Tax Assessment Act 1997.
- TR 97/11 Income tax: am I carrying on a business of primary production?
- This Ruling sets out guidance on whether or not a business of primary production is being carried on, but the indicators discussed are relevant to any business.
The supporting information we need for a private ruling or objection about whether you are carrying on a business includes:
- details about your activity
- when your activity commenced
- a description of your activity
- details of equipment and facilities you use in your activity (including depreciation schedules)
- the records you keep in respect of your activity
- your main clientele – for example, general public, friends or workmates
- how your products or services are advertised
- details about your plans for the activity
- a copy of your business plan
- a copy of profit and loss statements (that is, income and expenses)
- projected profit and loss statements showing how you intend to make a profit from your activity
- details of any professional or expert advice you have sought in setting up or conducting your activity
- details about you
- any qualifications or expertise you possess in respect of your activity
- any relevant organisations you are a member of
- relevant publications you subscribe to
- copies of any relevant licences, government approvals or planning permits you have obtained or applied for
- how much time you spend on this activity each week
- whether you are engaged in employment or another business activity and the amount of time you spend on these activities each week.
If your activity is one of share trading or other share market activity, please also provide the following information and documents:
- a description of your trading strategy and why you expect it will result in a profit
- details of your trading transactions for the relevant period
- details of the amount of capital you have had invested at different times (giving an indication of the maximum and minimum amounts)
- the amount of capital you have available and the sources of your capital.
Note: If you've previously provided us with any of the supporting information listed here, you don't need to provide it again.
If you want to apply for a private ruling about whether you are carrying on a business, you need to:
- complete and submit the relevant private ruling application form (for tax professionals or not for tax professionals)
- provide the supporting information.
If you want to lodge an objection about whether you are carrying on a business, you need to:
- complete and submit the relevant objection form (for taxpayers or tax professionals)
- provide the supporting information.
Next stepsDocuments and information to provide to the ATO to process a private ruling request or objection about whether you are carrying on a business.