MasterNuggets with Meng: Psyched about PSI

Demystify PSI with a timely case study focusing on the PSI tests and PCG 2021/4 on the allocation of professional firm profits.

In this session, we cover:

• Don Draper’s Marketing Consultancy Business

• What is personal services income?

• Personal Services Business (PSB)

• PSI Tests (Div 86):

  • Results test

  • 80/20 Rule

  • Unrelated clients test

  • Business premises test

  • Employment test

• Restrictions on deductions under PSI rules

• Interaction of Part IVA and PSI rules

• Rulings and Guidelines:

  • TR 2022/3

  • PCG 2024/D2

Date recorded: 23 June 2025