Broker accounting series ยท Guide 2
Personal services income
for finance brokers.
Operating through a company or trust does not automatically settle whether income is PSI. The work performed, contracts, payment arrangements and business activity all matter.
Facts before conclusions
Follow the income
back to the work.
PSI analysis begins by identifying what generated the income and whose personal efforts or skills were central to it. The results test and other personal services business tests have specific requirements.
Where a large proportion of income is connected with one source, additional restrictions can affect which tests are available. Broker and aggregator arrangements require careful reading because contractual payer structures and actual client-facing work may not be the same thing.
Contracts
Keep current aggregator, licence, referral and contractor agreements together with evidence of how the work operates.
Income sources
Map who pays, why they pay, the services performed and the source of each revenue stream.
Annual review
Reassess when contracts, staffing, lead sources, business premises or working practices change.
General information only
PSI needs a factual review,
not a shortcut.
Demeter can help organise the facts and identify which tax questions require specific advice.