PSI tax return and invoice dates - company using acurral method

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(Newbie)Newbie

11 July 2023

I have a simple question in regards to personal services income (PSI).

Context: I am working as a contractor through my company, and am sole director and employee.

My company is using simple BAS reporting and accrual accounting method.

Question: In regards to payments that are invoiced in June 2023, and monies received in July 2024 (by the company) - should these be included as income on personal tax return for FY24 or FY23. I know for company tax return this is accounted for in FY23, but unsure for personal tax return. Thanks.

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