Recent AAT cases have focused on the application of the Personal Services Business tests. Do your clients’ business structures stand up against the Personal Services Income provisions?
Businesses come in many shapes and sizes. It is common to see small businesses operated by partnerships, trusts, and companies.
However, the PSI provisions can take away many of the perceived tax benefits of using these structures to distribute income or retain profits at lower rates of tax.
This webinar will explore the theory and practical application of the Personal Services Income provisions, including alienation of PSI though a Personal Services Entity, entitlement to deductions, and the Personal Services Business Tests.
Webinar Learning Outcomes:
• Identifying clients with Personal Services Income
• Applying the Personal Services Business tests
• Issues with claiming deductions for individuals and entities with Personal Services Income
Accounting and taxation professionals who require a practical understanding of applying the Personal Services Income provisions in practice.
Craig Mitchell is an Associate Director with BDO in Brisbane, providing taxation and business advice to a wide range of family owned and operated businesses and high net worth clients. Craig has an interest in the real estate and construction sector and has a personal background in family businesses in the areas of property investment and development, transport, and agriculture that have been operating in Brisbane for over 50 years.
You will be provided with:
• PowerPoint presentation slide deck
• Supporting documentation
• Webinar Recording to view multiple times for up to 6 months
• An opportunity to participate in Q&A