Personal services income
Find out if you are receiving personal services income (PSI) and if the PSI rules apply to you.
Personal services income (PSI) is income produced mainly (more than 50%) from your skills or efforts as an individual.
Certain types of income are not personal services income (PSI).
How the personal services income (PSI) rules apply to you and how to self-assess based on your situation.
When the PSI rules apply to your income, they affect how you report that PSI and the deductions you can claim.
Even when the PSI rules don't apply, you still need to declare any PSI on your tax return.
If you've received personal services income (PSI), you need to ensure you keep the correct business records.
Seek professional advice if you are still unsure about how the PSI rules apply to you or your business.
QC16906