Complete this section if you selected either of the following at Personalise return:
- Personal services income
- Business income or loss.
Completing this section
We pre-fill your tax return with information from the Personal services income toolThis link opens in a new window.
You need details of your main business activity, including your Australian business number.
The business and professional items section will be automatically displayed if, at Personalise return, you have selected:
- You were a sole trader or had business income or losses, partnerships or trust distributions (not from a managed fund).
- Business/Sole trader income or loss, and either of:
- Personal services income
- Business income or loss.
At Prepare return select 'Add/Edit' at the Business/sole trader, partnership and trust income (including loss details) banner.
At the Business and professional items banner:
- Answer the question Did you receive any personal services income?
For more information, see Personal services income.
If Yes, go to step 2. Otherwise go to step 6. - Answer the question Did any activity satisfy the results test?
For more information, see Results test.
If No, go to step 3. Otherwise go to step 6. - Answer the question Have you received a personal services business determination(s) that was in force for the whole of the period you earned PSI?
For more information, see Apply for a PSB determination.
If No, go to step 4. Otherwise go to step 6. - Answer the question Did you receive 80% or more of your PSI from one source?
For more information, see The 80% rule.
If No, go to step 5. Otherwise go to step 6. - Answer the following questions:
- Did you satisfy the unrelated clients test?
For more information, see Unrelated clients test for PSI. - Did you satisfy the employment test?
For more information, see Employment test for PSI. - Did you satisfy the business premises test?
For more information, see Business premises test for PSI. - Go to step 6.
- Did you satisfy the unrelated clients test?
- Complete the remaining fields and questions in this section:
- Main business or professional activity – Select the main business or professional activity description where your gross income comes from.
If you are having difficulty finding an appropriate description, see Having difficulty finding a Main business or professional activity? - Number of business activities – Enter the number of separate and distinct business activities you operated as a sole trader and in partnership during 2019–20. The number of business activities you show here should not be less than the number you show at Loss details.
- Main business name – 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 & Investments Commission (ASIC), advise us in writing at the time the change is made. The current business name should be shown on your tax return - Main business address – Enter the street address of the place where most of your business operations are conducted.
- Did you sell any goods or services using the internet?
- Main business or professional activity – Select the main business or professional activity description where your gross income comes from.
- Select Save.
Having difficulty finding a Main business or professional activity?
If you are, we recommend you take the following steps:
- Enter your activity into the Business industry code search toolThis link opens in a new window
- From the search tool results, click on the link for the most appropriate description for your activity.
- From here, you will see a number and a description (for example 69320 Accounting Services). Enter this description at Main business or professional activity in myTax.
Did you sell goods or services using the internet?
You must answer yes if you used the internet for any of the following to obtain your income:
- to receive orders for goods or services (rather than by post, phone or facsimile)
- to receive payment for goods or services, for example, you received:
- credit card or charge card details by email or web page form or
- digital cash
- to deliver goods or services, for example, you:
- used email, a website or file transfer protocol (FTP) to deliver goods (such as digitised music, software or news articles)
- used email in conjunction with a website to give advice and received a payment
- advertised on the internet goods or services of other businesses for a fee, or
- hosted internet sites or provided access to the internet.
You must answer no if none of the above applied, for example, if you only used the internet to:
- advertise your goods and services
- give support to your customers
- buy your stock
- do your banking online.
More information
The following information may assist you when you are completing either Personal services income or Business income or losses:
- Are you a hobby or are you in business
- Record keeping for PSI
- Record keeping for business
- Offer your employees a choice of super fund
- Small business entity concessions
- Concessions at a glance
Publications
- Deductions for prepaid expenses
- Guide to depreciating assets
- Information for primary producers
- Law Administration Practice Statement PS LA 2001/6 Home office and electronic device expenses
- Law Administration Practice Statement PS LA 2003/8 Practical approaches to low-cost business expenses
- Other capital expenses (including capital works deductions)
- Partnerships
- Private ruling application form (not for tax professionals)
- Private ruling form (non-commercial losses)
- Small business entity concessions
- Taxation Ruling TR 92/18 Income tax: bad debts
- Taxation Ruling TR 93/30 Income tax: deductions for home office expenses
- Taxation Ruling TR 96/7 Income tax: record keeping – section 262A – general principles
- Taxation Ruling TR 97/11 Income tax: am I carrying on a business of primary production?
- Taxation Ruling TR 97/23 Income tax: deductions for repairs
- Taxation Ruling TR 2003/10 Income tax: deductions that relate to personal services income
- Taxation Ruling TR 2006/3 Income tax: government payments to industry to assist entities (including individuals) to continue, commence or cease business
- Taxation Ruling TR 2007/6 Income tax: non-commercial business losses: Commissioner's discretion
- Thin capitalisation