ATO wins PSI (income splitting) test case

*Update* 12 May 2008

The ATO has provided an important commentary on a recent legal test case covering independent contractors using discretionary trusts and companies. Click here for more information.

[Originally posted 14 January 2008]: In a major win for the ATO, the Federal Court has supported the ATO when it stopped two independent contractors from splitting their incomes under PSI rules. What are the tax implications for independent contractors? For ICA summary and comment, click here.

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