Day: February 11, 2026

PSI compliance checklist: what records the ATO expects to see when assessing your contractor income matters whenever you earn PSI mainly from your own personal efforts rather than from a big team or large assets. When most of your income is personal services income PSI, the Australian Taxation Office will expect you to keep clear…

Does Your Business Pass The PSI Results Test is a key question if most of your income comes from your own personal efforts rather than selling goods. If your income is considered Personal Services Income, the PSI rules can limit some tax deductions and affect how income is reported. This article gives you a practical…