Personal Services Income Negative Gearing

The second requirement that Jimmy Grant needed to satisfy is that no more than 80% of his company's income comes from one client, Tax Block nor Tax Block's associates, and that he has to meet the
If Jimmy Grant can prove that he met the requirements of the result test his business is a PSE and the company falls under company business. If he does not meet the requirement of a PSE his company falls in the category of PSI and therefore liable for individual assessable income.
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