Psi

Tax

Allocation of professional firm profits and PCG 2021/4 – how risky are you?

Bruce Collins, May 9 2022

This article was originally posted on CCH iKnow prior to a webinar hosted by CCH Learning on the topic. Taxation of members of professional firms has presented philosophical and tax administration problems for decades around the nature of profits/gains and on the ability to “alienate” income to associates (especially those with lower tax rates) -...

Tax

Am I deriving Personal Services Income?

Amanda Guruge, August 9 2021

For those in the business of selling a services that is attributable to your personal skills, knowledge and time, it is more than likely that you are earning Personal Services Income. There are special tax rules that may apply to your circumstances. What is Personal Services Income?