Personal services income

Contracts over multiple income years

PSB tests are used to work out if the PSI rules apply to a particular income year.

If a contract goes across more than one income year, then for the purposes of applying the employment test you will only consider the amount of the contract price and market value of the employee's or contractor's work that was derived in the income year that you’re applying the test to.

What is PSI?

4 mins

What is PSI?	0%

Is the income PSI?

5 mins

Working out if income is PSI	0%
Activity	0%
Activity	0%
Activity	0%

Income that is not PSI

9 mins

Income that is not PSI	0%
Salary and wage earners	0%
Supplying or selling goods	0%
Supplying or using an income-producing asset	0%
Activity	0%
Activity	0%
Income from a business structure	0%
Activity	0%
Activity	0%

Whose PSI is it?

7 mins

Whose PSI is it?	0%
Activity	0%
Activity	0%
Activity	0%
Activity	0%

Working out if the PSI rules apply: self-assess as a personal service business (PSB)

2 mins

How to self - assess as a PSB	0%

The 80% rule

5 mins

The 80% rule	0%
Work out the amount of PSI that comes from each client and their associates	0%
Activity	0%
Work out if the special rule for agents apply	0%
Activity	0%

Results test

8 mins

Results test	0%
Paid to produce a specific result	0%
Provide equipment or tools	0%
Fix mistakes at your own cost	0%
Activity	0%
Activity	0%

Unrelated clients test

5 mins

Unrelated clients test	0%
Activity	0%
Activity	0%

Employment test

5 mins

Employment test	0%
Activity	0%
Activity	0%
Contracts over multiple income years	0%

Business premises test

7 mins

Business premises test	0%
Activity	0%
Activity	0%
Activity	0%
Activity	0%
Activity	0%

Obtaining work through an agency

5 mins

Obtaining work through an agency	0%
Obtaining work through an agency: results test	0%
Obtaining work through an agency: 80% rule	0%
Obtaining work through an agency: unrelated clients test	0%

Apply for a personal services business determination (PSBD)

3 mins

What is a PSBD?	0%
Unusual circumstances	0%
Apply for a PSBD	0%

What to do when the PSI rules apply

2 mins

What to do when the PSI rules apply	0%

What to do when the PSI rules apply: claiming deductions

11 mins

Claiming deductions when receiving PSI	0%
Deductions that can’t be claimed against PSI	0%
Rent, mortgage interest, rates and land tax	0%
Payments to associates for non-principal work	0%
Activity	0%
Super contributions for associates for non-principal work	0%
Activity	0%
Activity	0%
Non - deductible expenses	0%
Allowable deductions when receiving PSI	0%
Car expenses	0%
Activity	0%

What to do when the PSI rules apply: how to attribute PSI

8 mins

How to attribute PSI	0%
Attributing PSI where one individual generates PSI	0%
Attributing PSI where 2 individuals generate separate PSI	0%
Activity	0%

What to do when the PSI rules apply: PAYG

18 mins

Additional PAYG withholding obligations	0%
Work out additional PAYG withholding obligations	0%
Method 1: 70% of Gross PSI received	0%
Method 2: Percentage from previous income year	0%
Method 3: Legislative method	0%
Reporting PAYG withholding for PSI	0%
Activity	0%
Partnerships and PAYG instalments	0%
Correcting mistakes	0%

What to do when the PSI rules apply: completing your tax return

4 mins

Completing your tax return	0%
Completing reconciliation lab	0%

What to do if the PSI rules don’t apply

3 mins

When the PSI rules don’t apply	0%
General anti-avoidance rules (GAAR) and PSI	0%

Record keeping for PSI

1 mins

Record keeping for PSI	0%
Make it easier to identify PSI in your business records	0%

Help for PSI

1 mins

Help for PSI	0%

Case study: instructions

1 mins

Case study instructions	0%

Case studies: sole trader

11 mins

Case study 1: sole trader	0%
Case study 2: sole trader	0%

Case studies: partnership

12 mins

Case study 1: partnership	0%
Case study 2: partnership	0%

Case studies: company

12 mins

Case study 1: company	0%
Case study 2: company	0%

Case studies: trust

12 mins

Case study 1: trust	0%
Case study 2: trust	0%

Related courses

1 mins

Related courses	0%

Course Feedback

Course Feedback	0%