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  2024

PSI vs PSB and the PCG – Where do you fit

Published Date: 11 Sep 2024

 

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With the ATO’s increased focus on Personal Services Income (PSI), Personal Services Business (PSB) and Allocation of professional firm profits, SME practitioners need to be mindful of where clients and their entities fit within the overall matrix.

This practical session considered:

  • PSI vs PSB vs Allocation of Professional Firm Profits
  • Business entities evolving over time
  • Professional vs “blue collar” industries
  • Inequities for dual income vs single income families
  • Tips and traps depending upon where your client entities sit
  • How to ensure clients and their entities fit within the guidelines
  • ATO concerns over excessive income splitting; and
  • Application of Part IVA.
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