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How to add business income in myDeductions

How to add a record of business income in myDeductions as a sole trader.

Last updated 2 June 2024

If you chose to include business (sole trader) records, you can add your business income. If you chose to include only employee or general records, you will not see this option.

Only your business income should be recorded. If you earn any of the following income, add it into your tax return and don't record it on myDeductions:

If you upload any other types of income apart from business income, the information will be pre-filled into the wrong sections of your tax return.

If you have business income from primary production or personal services income business, you can use the tool to record your income and expenses, however you should not upload your records as they will be pre-filled into the incorrect labels in your tax return.

If you make a mistake you can delete any recorded income, as long as you haven't already uploaded it. Delete your income by opening the record and selecting the Delete button.

If you have already uploaded the data when you realise there is a mistake, you can't amend that year's information within myDeductions. Instead, amend the data in your myTax return before submitting it.