Item 1.5.11

1.5.11 Have you and your spouse distributed business income/personal income from a joint business?

Applies to the income year 2017

Under this item, you must tick "yes" or "no" whether you and your spouse have business income and calculated personal income from a joint business which you have distributed between yourselves.

Does this item concern me?

This item concerns spouses who distribute the surplus (business income and/or calculated personal income) from a joint business.

The item also concerns cohabiting partners who are taxed jointly as spouses (spouse-equivalent cohabitants) if they run a joint business.

The distribution of the surplus should be based on each spouse's work input. By "joint business", we mean a commercial enterprise that is owned either by one of the spouses or by both spouses jointly.

The item does not apply to private limited liability companies, even if the spouses own the majority of the shares.

How do I enter this in my tax return?

If you and your spouse distribute business income and/or personal income from a joint business, you must select "Yes" under the item.

Documentation requirements

You do not need to send us any documentation concerning this, but you must be able to present it upon request.

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