Completing the Private Company MOD PC 043-04010030

The information collected in conjunction with the MOD PC enables Services Australia to assess income and assets from a private company.

Customers (or their partners) who indicate they are involved in a business as a sole trader or are a member of a partnership need to complete a Business details MOD F. If they are involved in a private trust, they will need to complete a Private Trust MOD PT.

On 1 July 2019, the Work Bonus was extended to include self-employment income through personal exertion. This is when self-employed people earn income from engagement in gainful work for example bookkeeping, lawn mowing or plumbing. Customer's who are eligible for Work Bonus will be asked to declare the percentage of their income from the company that is earned through personal exertion.

Much of the information required on the form is only available from those who know the details of the company. Therefore staff will not be able to help the customer complete the form.

Services Australia suggests the customer talks to the company tax agent or accountant and considers having them complete the form on their behalf. However, it is still the responsibility of the customer to ensure that the form is completed and returned.

If a customer (or their partner) requires an accountant or tax agent to assist in completing the form, Services Australia will not reimburse any fees charged.

The MOD PC requires customers (and/or their partners) to attach documents such as taxation returns, profit and loss statements, balance sheets, depreciation schedules, trust deeds etc.

When the MOD PC is returned, ensure that all questions on the form have been completed and that the appropriate documents have been attached. See Documents required to assess a private company for guidance.

Scan all documents provided and then record referral to Complex Assessment Officer (CAO) on the customer's record.

If the customer (or their partner) is involved in more than one private company, separate MOD PC is required for each private company.