Скачать или смотреть PSI: The Meaning Of 'Producing A Result'

The results test is the most important test under the Personal Services Income (PSI) rules. If it is passed, there is no need to look further at other tests and the PSI rules do not apply. 🎉

However, it can be tricky! Here are some handy pointers:

📍Producing a result is more than just doing work; it's about achieving a specific outcome.

📍Even if you're paid hourly (like an accountant) you may still be producing a result - for example, when you’re preparing financial statements or a tax return.

📍Payment is received as a return for the result, and not until or unless that result is achieved.

📍Deliverables, however, are not the same as results - just because you're producing deliverables, it doesn't mean you're producing a result.

Still confused? 😵‍💫 We don’t blame you. It’s complex!

For a better understanding, dive into our latest Tax Nugget featuring tax expert John Jeffreys. This is a highly nuanced issue that John explains brilliantly. Don't miss it.

🚀 Stay ahead with unlimited access to 100+ live events per year and 200+ CPD hours of engaging tax training videos
www.taxnuggetsacademy.com.au