Published on 06 Sep 2001
| Took place at Radisson Playford Hotel, Adelaide
The personal Services Income regime has applied from 1 July 2000, therefore 2001 tax returns being prepared from now on must correctly reflect the new law. The Government is being forced to review the basis on which the PSI legislation operates and to address the various draconian aspects of the legislation.
This seminar includes a combination of a lecture as well as a comprehensive set of case studies and solutions.
2001 Returns and PSI
Author(s): Mick LYONS This seminar paper discusses the changes made to part 2-42 of the ITAA 1997 highlights the differences the changes make to the tax practitioner. Topics covered in this paper include:
- What is PSI as defined by Part 2-42?
- Income earned from the use of assets
- Income from a business structure and from the sale of goods
- The Results Test