PSI Rules

The Personal Services Income rules apply where income is derived by a person or an interposed entity that is mainly a reward for that person’s personal efforts or skills. Where the PSI rules apply, there are limits on the deductions available and the net PSI income of the interposed entity is attributed back to the person who performed the work.

However, the PSI rules do not apply where the person or the entity is carrying on a Personal Services Business (PSB).

In this webinar, Tax & Super Australia’s Frank Drenth will examine the four tests that may be relied upon to be regarded as a PSB:

The results test
The unrelated clients test
The employment test
The business premises test.

We will also go through some of the main AAT and Federal Court cases that have considered these issues and make suggestions on how best to reduce the risk of additional tax and penalties that clients could face.

 

More information:

   Friday 6 August                   Frank Drenth    Slides  
   12:30-1:30pm AEST      Live webinar    Recording 
   1 CPD point      $99 (members) | $132 (standard)        Notes

 


Presented by: Frank Drenth

Frank Drenth joined Tax & Super Australia in 2020, after a career in the tax profession spanning more than 40 years. He has had extensive experience in the ATO, with several large corporates as an in-house tax advisor, with a Big 4 chartered firm, was the Executive Director of the Corporate Tax Association for 16 years. In his last role he was an external member of the ATO’s Effective Life Review Panel for many years.
When
6/08/2021 12:30 PM - 6/08/2021 1:30 PM
Where
Online, Australia

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