Tag: contractors

Do you run your business from home?

  • On December 10, 2019
ATO has issued some new guidance to businesses claiming home office expenses for home-based businesses. What are Home-Based Businesses? A home-based business can be run at home like a boutique or from home like an electrician who visits the client’s site but does all the admin work from home and stores tools etc. Home Office Expenses Normally, if you […]

Personal Services Income. What is it?

  • On November 29, 2019
This article aims to cover Personal Services Income (PSI) issues faced by contractors, freelancers, medical professionals etc. Though Personal service income act has been in existence for a while, it is still a deeply misunderstood tax act. The article starts by explaining what PSI is and why was it introduced. Then it goes onto cover PSI rules […]