Business and Professional items (Individual return)

See Completing Business and professional schedule on the ATO website.

This tab provides all items related to the business and professional income section of the individual income tax return.

Items in this tab:

• Item P1 - Personal Services Income

• Item P2 - Description of main business or professional activity

• Item P3 - Number of business activities

• Item P4 - Status of business

• Item P5 - Business name of main business and Australian Business Number (ABN)

• Item P6 - Business address of main business

• Item P7 - Did you sell any goods or services over the Internet?

• Item P8 - Business income and expenses

• Item P9 - Business loss activity details

• Item P10 - Small business entity simplified depreciation

• Item P11 - Trade debtors

• Item P12 - Trade creditors

• Item P13 - Total Salary and wage expenses

• Item P14 - Payments to associated persons

• Item P15 - Intangible depreciating assets first deducted

• Item P16 - Other depreciating assets first deducted

• Item P17 - Termination value of intangible depreciating assets

• Item P18 - Termination value of other depreciating assets

• Item P19 - Trading stock election