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Edited version of your written advice
Authorisation Number: 1051426436385
Date of advice: 11 September 2018
Ruling
Subject: Personal services income
Question 1
Am I subject to the Personal Services Income (PSI) rules?
Answer
Yes. You are subject to the PSI rules.
Question 2
Will the restructure of the business affect my taxation obligations?
Answer
No. As PSI rules apply the taxpayer is required to attribute their net PSI to the taxpayer even if they work through an interposed entity (a company, partnership or trust).
This ruling applies for the following periods:
30 June 2018
30 June 2019
30 June 2020
The scheme commences on:
1 July 2017
Relevant legislative provisions
Income Tax Assessment Act 1997 section 84-5
Income Tax Assessment Act 1997 section 85-30