P2 Description of main business or professional activity
Describe the main business or professional activity that your gross income comes from as accurately as possible – for example, beef cattle breeder, vegetable grower, clothing manufacturer, confectionery wholesaler, or electrical goods retailer.
Don't use general descriptions, such as farmer, manufacturer or wholesaler.
At P2 Description of main business or professional activity, write the description of your main business or professional activity.
P3 Number of business activities
Write at P3 – label B the number of separate and distinct business activities you operated as a sole trader and in partnership during 2023–24. If you operated only one business activity, write one (1).
The number of business activities you show at label B should not be less than the number you show at P9 Business loss activity details.
P4 Status of business
If you ceased your main business during 2023–24, print X at P4 – label C1 in of your schedule.
If you commenced a new business during 2023–24, print X at P4 – label C2.
If more than one option applies, only print X at P4 – label C1. If neither option applies, leave both boxes blank.
P5 Business name of main business and ABN
Write the registered business name and Australian business number (ABN) of your main business in your schedule.
The registered business name of your main business activity should be consistent. It should only be updated when there is a name change or when it is no longer the main business activity.
If the business name is legally changed with the Australian Securities and Investments Commission (ASIC), advise us in writing at the time the change is made. The current business name should be shown in your tax return.
P6 Business address of main business
Write the business address (street name, suburb or town and state) of the place where most of your business operations are conducted at in your schedule.
Write the postcode of this address at P6 – label D.
Continue to: Business income and expenses – P8