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Full Version: Doing my own tax with an abn
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Meeche
So this year I took a part time job where I needed an ABN. So, I got an ABN and I invoiced the company fortnightly. So basically I was a contractor (just office work).

How do I do my own tax with etax? I don't have an deductions that I know of. I basically just went to work each day, used all their stuff and did my job, then came home. Never had to buy anything or did any study or anything like that.

I have always just done our own taxes through etax and I recently did my husbands. Just want to do mine now so everything can be reconciled with Family tax Office etc.

Is it pretty straight forward? Do I need to give myself a Payment Summary???? Where do I type in income as I haven't received a PAYG slip thingy from anyone?

Loathe to use a tax person when I am sure it is so simple online just need a push in the right direction! Thanks
Sassy Dingo
It's pretty easy.

One of the early questions in the income section of etax is Q15 - Net income or loss from business.' It's super easy.

Fill that one in. Be careful to make sure you put it in the side 'non PP' (non primary production). Farmers get special concessions and such.

Another thing to think about is whether your income is 'personal services income' which is Q14. Frankly it sounds as if it is. It is designed to stop people like yourselves who are essentially an employee being eligible to claim travel to work expenses and such when ordinary salary and wage earners don't. Here is the info from etax:

"If you have earned personal services income (PSI), but not as an employee, there may be limitations on the deductions that relate to the gaining and producing of that income that you can claim. This depends on whether:
-you satisfied the results test, that being in respect of at least 75% of this income you were paid to achieve a specific result or outcome, you supplied your own tools and equipment and are liable for any defects in your work,
-a personal services business determination, from the Commissioner,
-you satisfied at least one of the three personal services business tests"


If you can't satisfy that test, you'll be very limited in the deductions you can claim as the commissioner doesn't see it as a 'legitimate' business - usually an employer doing exactly as yours has and forcing someone to get an ABN. But you said you had limited deductions anyway, so if you solely put in your income you'll be fine - even if you 'fail' the PSI tests.

Sassy Dingo
You don't need a payment summary or anything like that. As you are running your own business all the record keeping is on you. You're supposed to have kept a record of all your income. Spreadsheet will do the job.

You realise it's likely you might have a tax debt right?
Meeche
Thanks for the advise. No tax debt as I have only been working for 5 months and only a minimal amount - not even 10k. But yes, if going forward I stayed there then yes, I realise I would have to pay tax etc. I have since left the job and am not employed otherwise.
So, do I write the income at both spots? Sorry - I am not good at this - I think my brain puts up a brick wall when it has do anything with numbers! Otherwise I think I am quite smart!!!! funny! I don't have any deductions at all.
Sassy Dingo
Nope - only include it in Q15.

If you don't have any deductions at all I'd just skip question 14 by answering no - while technically you could possibly have some PSI - it's not going to affect anything if you don't have deductions. So they'd be no $ difference at all.

Hope that helps.
Meeche
Thank you!
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