Its my understanding that PSI business deductions are claimed as if the PSI entity/individual was an employee, with the permitted exception of deductions eligible such as SBE depreciating asset rules.
Could someone confirm that this would mean that a PSI Sole Trader and a PSI Entity, that neither are entitled to the Technology Boost or the Skills and Training Boost.
Hi @Emma1999
When you earn personal services income (PSI), you are treated as though you are in the same position as an employee.
This means your business may claim deductions against PSI received, if:
Deductions that can't be claimed against PSI include:
Refer to Claiming deductions when receiving PSI for more information.
To access the Small business technology investment boost and skills and training boost, you must refer to the respective eligibility requirements on your ability to apply.
Receiving PSI does not affect your ability to apply the Small Business Technology Investment Boost.
However, you can’t apply the Small Business Skills and Training Boost to expenditure for:
Hello there @Emma1999,
We've had a few questions about PSI and the boost. We'll get clarification from our technical team.
Hi @Emma1999
When you earn personal services income (PSI), you are treated as though you are in the same position as an employee.
This means your business may claim deductions against PSI received, if:
Deductions that can't be claimed against PSI include:
Refer to Claiming deductions when receiving PSI for more information.
To access the Small business technology investment boost and skills and training boost, you must refer to the respective eligibility requirements on your ability to apply.
Receiving PSI does not affect your ability to apply the Small Business Technology Investment Boost.
However, you can’t apply the Small Business Skills and Training Boost to expenditure for:
22 Apr 2024 · 3 min read time
15 Apr 2026 · 4 min read time
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