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PSI vs contractor

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Newbie

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Hi there!

I’ve recently decided to do some contracting work. The type of work is not considered a hobby, but I will earn under the tax-free threshold this year. The PSI tool result is that my earnings are classified as PSI, but the PSI rules do not apply.
Does this mean that I am considered a contractor? Do I need an ABN?

Many thanks,
Erinnn.
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Most helpful response

Taxicorn

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@Erinnn 

 

Main difference between an Employee and a Contractor:

 

https://www.ato.gov.au/Business/Employee-or-contractor/Difference-between-employees-and-contractors/

 

If you are a contractor then you will need an ABN.

 

 

 

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Most helpful response

Taxicorn

Replies 1

@Erinnn 

 

Main difference between an Employee and a Contractor:

 

https://www.ato.gov.au/Business/Employee-or-contractor/Difference-between-employees-and-contractors/

 

If you are a contractor then you will need an ABN.

 

 

 

Newbie

Replies 0

Thanks @macfanboy!