Hi, I have an ABN and work for a doctor here in Australia as a medical transcriptionist. I time my work and charge them per hour in a monthly invoice. I understand that I am an independent contractor. When I start my tax return do I select salary and wages or sole trader business income? As a transcriptionist who works from home 100% of the time, is this personal services income or business income or loss?
Hi @RCTranscription,
When you are invoicing for your services under your ABN. It’s not salary and wages as you are not an employee.
When you prepare your return online you would need to select you're a sole trader or had business income. From there you'd choose business/sole trader income or loss. Then you'll choose if you received PSI or business income. To help determine this w have a great page to work out if the PSI rules apply to you that you may find helpful.
Hi @RCTranscription,
When you are invoicing for your services under your ABN. It’s not salary and wages as you are not an employee.
When you prepare your return online you would need to select you're a sole trader or had business income. From there you'd choose business/sole trader income or loss. Then you'll choose if you received PSI or business income. To help determine this w have a great page to work out if the PSI rules apply to you that you may find helpful.
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