This tax workpaper provides a record of income and expenses for primary production.
You must use this workpaper to complete Business income and expenses – Primary production. This includes Livestock and Produce income.
To add this workpaper:
From the Tax workpapers & schedules drop-down, select Business – Primary Production
This workpaper has 4 sections
Livestock
In this section, enter the number of units (Number) and the dollar value for any livestock income. To add a new section, click Add Livestock income.
Produce
In this section, complete all the produce income and expenses. To add a new section, click Add Produce income
Other income
Deductions
Complete the deductions related to the income above.
Integration
Individual
PP income |
|
|---|---|
Livestock - Sales | P8 - Label I |
Livestock - Rations | P8 - Label I |
Livestock - Opening Stock | P8 - Label K - Primary production (See Expenses) |
Livestock - Purchases | P8 - Label L - Primary production (See Expenses) |
Livestock - Closing Stock | P8 - Label M - Primary production (See Expenses) |
Deductions |
|
Foreign resident withholding expenses (excluding capital gains) | P8 - Label U |
Contractor, sub-contractor & commission expenses | P8 - Label F |
Superannuation expenses | P8 - Label G |
Bad debts | P8 - Label I |
Lease expenses | P8 - Label J |
Rent expenses | P8 - Label K |
Interest expenses within Australia | P8 - Label Q |
Interest expenses overseas | P8 - Label R |
Depreciation expenses | P8 - Label M |
Motor vehicle expenses | P8 - Label N |
Repairs and maintenance | P8 - Label O |
All other expenses (Not listed above) | P8 - Label P |
Partnership
PP income |
|
|---|---|
Livestock - Sales | 5G - Other business income |
Livestock - Opening Stock (Cost of sales) | 5E Expenses Cost of sales, |
Livestock - Purchases (Cost of sales) | 5E Expenses Cost of sales |
Livestock - Killed for rations (Cost of Sales) | 5G - Other business income |
Livestock- Closing Stock (Cost of sales) | 5E Expenses Cost of sales, |
Produce - Sales | 5G - Other business income |
Produce - Goods for own use | 5G - Other business income |
Produce - Opening Stock (Cost of sales) | 5E Expenses Cost of sales, |
Produce - Direct costs (Cost of sales) | 5E Expenses Cost of sales |
Produce - Closing Stock (Cost of sales) | 5E Expenses Cost of sales, |
Deductions |
|
Commission paid, Sub-contract, contract labour | 5C Contractor, sub-contractor & commission expenses |
Superannuation expenses | 5D Superannuation expenses |
Bad debts | 5F Bad debts |
Lease expenses | 5G Lease expenses |
Rent expenses | 5H Rent expenses |
Interest - domestic, Interest - overseas | 5I Total interest expenses |
Royalties | 5J Total royalty expenses |
Depreciation expenses | 5K Depreciation expenses |
Motor vehicle expenses | 5L Motor vehicle expenses |
Repairs and maintenance | 5M Repairs and maintenance |
Accounting, Advertising and marketing, Bank fees, Borrowing expenses, Capital works, Cleaning and rubbish removal, Donations, Electricity and gas, Freight and courier, Fuel and oil, Government charges/fees/levies/licences etc, Hire and rent of plant and equipment, Hire purchase charges, Home office expenses, Insurance expenses, Legal fees, Materials and supplies, Postage, Printing and stationery, Protective clothing, Rates and land taxes, Replacements - tools etc, Salaries - associated persons, Salaries - other persons, Subscriptions, Sundry expenses, Telephone, Travel, accommodation and conference expenses, Other expenses | 5N All other expenses (Not listed above) |
Salaries - associated persons, | 44L Total salary and wage expenses |
Trust
PP income |
|
|---|---|
Livestock - Sales | 5G - Other business income |
Livestock - Opening Stock (Cost of sales) | 5E Expenses Cost of sales, |
Livestock - Purchases (Cost of sales) | 5E Expenses Cost of sales |
Livestock - Killed for rations (Cost of Sales) | 5G - Other business income |
Livestock- Closing Stock (Cost of sales) | 5E Expenses Cost of sales, |
Produce - Sales | 5G - Other business income |
Produce - Goods for own use | 5G - Other business income |
Produce - Opening Stock (Cost of sales) | 5E Expenses Cost of sales, |
Produce - Direct costs (Cost of sales) | 5E Expenses Cost of sales |
Produce - Closing Stock (Cost of sales) | 5E Expenses Cost of sales, |
Deductions |
|
Commission paid, Sub-contract, contract labour | 5C Contractor, sub-contractor & commission expenses |
Superannuation expenses | 5D Superannuation expenses |
Bad debts | 5F Bad debts |
Lease expenses | 5G Lease expenses |
Rent expenses | 5H Rent expenses |
Interest - domestic, Interest - overseas | 5I Total interest expenses |
Royalties | 5J Total royalty expenses |
Depreciation expenses | 5K Depreciation expenses |
Motor vehicle expenses | 5L Motor vehicle expenses |
Repairs and maintenance | 5M Repairs and maintenance |
Accounting, Advertising and marketing, Bank fees, Borrowing expenses, Capital works, Cleaning and rubbish removal, Donations, Electricity and gas, Freight and courier, Fuel and oil, Government charges/fees/levies/licences etc, Hire and rent of plant and equipment, Hire purchase charges, Home office expenses, Insurance expenses, Legal fees, Materials and supplies, Postage, Printing and stationery, Protective clothing, Rates and land taxes, Replacements - tools etc, Salaries - associated persons, Salaries - other persons, Subscriptions, Sundry expenses, Telephone, Travel, accommodation and conference expenses, Other expenses | 5N All other expenses (Not listed above) |
Salaries - associated persons, | 44L Total salary and wage expenses |