Are you earning Personal Service Income?
Tax time is here, and a question being asked in the tax return is: ‘Are you earning Personal Services Income?’. But what is Personal Services Income? Personal Services Income (or PSI) is when more than 50% of the income you’ve received is a reward for your personal efforts or skills (rather than generating the income […]
It’s TPAR Time!
If you operate a business that provides the services listed below, and pay contractors to help deliver this service, you may need to report these payments to the ATO by lodging a “Taxable payments annual report” (TPAR). The services that may be required to report are: Building and Construction (including most related trades) Cleaning Courier or […]