Use the Taxable payments schedule (tps) to include any income reported via Taxable payment reporting system (TPRS) services
Who needs to complete this form?
Complete the taxable payments schedule (tps) if your client is a contractor ((including subcontractors, consultants and independent contractors) and their payments are reported to the ATO via TPAR.
For more information, see the ATO’s website
Completing tps the schedule
The tps schedule is part of the Income Details schedule (INCDTLS) where you can manually enter data or use ATO pre-fill.
You can report up to 20 records and for anything more than 20, consolidate the rest into one.
Income classification based on payment type
|
Payment type |
Choose from the classification |
Integrates to labels |
|---|---|---|
|
Payment |
Personal services income (PSI) - income derived from personal efforts or skills. |
Item P1 Label O |
|
Business income - payments that are generally assessable income and are not subject to tax. |
Amount that integrates is Taxable payments gross amount minus GST Primary production - Item P8 Label N Non- Primary production - Item P8 Label O |
|
|
Other income - Payments that do not fall within the above categories may be classified as other income. |
Item 24 label V Category 4 other income |
|
|
Grant |
Assessable government industry payments - Taxable payments gross amount minus GST integrates to Item P8 label H for Non Primary production payments, and item P8 label G for primary production income |
Amount that integrates is Taxable payments gross amount minus GST Primary production - Item P8 Label G Non- Primary production - Item P8 Label H |
|
Non Assessable Non Exempt (NANE) income - payments are not included in assessable income and not subject to tax |
Amounts do not integrate to the return and will need to be calculated manually |
|
|
Capital gains - these amounts are treated under capital gains tax provisions rather than as income. |
Amounts do not integrate to the return and will need to be calculated manually |
|
|
Other income - Payments that do not fall within the above categories may be classified as other income |
Item 24 label V Category 4 other income |