Term: Personal services income

What is personal services income?

Personal services income (PSI) is income earned by an individual outside of employment. The Australian Taxation Office has rules around what determines income outside of employment.

Currently if more than 50% of the income received was for labour, skills or expertise, as opposed to product, it’s classified as PSI. For tax purposes PSI is treated as your individual income.


You can search for experts in our advisor directory

Find an advisor
Xero Small Business Guides

Xero small business guides

See our guides & articles
Try Xero for free

Try Xero for free

Sign up today