Schedule C (primary production worksheet) 2018 2018
This Tax worksheet for pastoral or livestock accounts may be used:
to record income and expenses of a primary production nature and
to calculate natural increase of livestock herds or flocks.
Also refer to Borrowing Costs.
Integration
The integration options are selected from a list which offers:
N Integrate amounts only to Business item
P Integrate amounts to Personal Services Business item (Form I only)
Y Integrate main business details to Business item
Total deductions - payments to associates for principal work
Extra fields have been added to the end of Schedule C to accommodate the introduction of personal services income (PSI)* relating to total deductions for principal work done by associates.
The totals integrate to Item P1, Labels K and L. Refer to Item P1 - Personal Services Income 2018 2018 2018 2018 for information about Personal Services Business Qualification.
Completing the Worksheet
This worksheet lists the types of primary production income and deductions. All amount fields allow for a grid to be attached for record keeping and dissection purposes.
Other: At fields for other income and other expenses, where you provide both description and amount. To add extra lines click [Ctrl+Insert].
Depreciation worksheet: To open this worksheet from the Depreciation field click [Alt+S]. Refer to Depreciation worksheet (d) 2018 2018 2018.
Capital Works Deductions: Use the Capital Works Deductions worksheet to record the details and calculate the accurate deduction allowed. Refer to Capital works deductions worksheet (sbw) 2018 2018 2018.
Amounts from MV worksheet: At this field in Schedule C the amount integrates from item 07 Total motor vehicle expenses allocated in the Motor Vehicle worksheet (mve). Integration depends on selecting code c for PP Income and expenses and entering the percentage to be applied. Refer to Motor vehicle worksheet (mve) 2018 2018.
Payment Summary Schedule: For the primary production income in worksheet C to agree with the Labels in the main return, you must enter the total of the amounts entered in the Payment Summary schedule for primary production labels C, E and N in the fields located in the worksheet above the access point to the Payment Summary schedule. To access the Payment Summary from worksheet C select Y and press [Enter].