Complete this section if you have business income and expenses from non-primary production activities.
Completing this section
Watch our video for a demonstration on how to complete the business section in myTax.
Note: If tax has been withheld from your business-related income you should have received a:
- Business-related income statement
- PAYG payment summary – business and personal services income
- PAYG payment summary – withholding where ABN not quoted
- PAYG withholding payment summary – foreign residents
Enter the details in the Business income statements and payment summaries section.
Income and tax withheld amounts shown in the Business income and payment summaries section will be transferred to this section if they relate to non-primary production business activities. Add, alter or delete these amounts in the Business income statements and payment summaries section.
If you have a reminder below the Business and professional items section that you received:
- payments or grants reported in a Taxable payments annual report where tax has not been withheld and they relate to non-primary production business activities, include these amounts at this section. Amounts invoiced but not actually paid to you in the financial year were not included in this year's Taxable payments annual report.
- business transactions through an electronic payment system and these payments belong to your business activities, work out the amount you need to include at this section. For more information, see Business transactions.
- Select Net non-primary production to expand the section.
- Enter your total non-primary production government industry payments received at Assessable government industry payments. For more information, see Assessable government industry payments.
- Enter your other non-primary production business income or loss amounts at Other business income. For more information, see Other business income. Include amounts received where all of the following apply:
- you have a reminder below the Business and professional items section that you received payments or grants reported in a Taxable payments annual report
- no tax has been withheld, and
- the payments are not personal services income.
- Enter your non-primary production business expense amounts into the corresponding fields. For more information, see Expenses.
- Enter the reconciliation item amounts related to your non-primary production business activities into the corresponding fields. For more information, see Reconciliation items.
- Select Save.
Note: If you are a small business entity, you may be entitled to the small business income tax offset. For more information, see Small business income tax offset.