Earlier this year, the Fair Work Ombudsman (FWO) announced several changes to employment regulations, many of which will take effect this August. The updates aim to create fairer and more transparent employment practices, address current gaps in the law, and meet the needs of today’s workplaces.
Tag Archive for: independent contractors
Professional contractors ask us if there are any benefits in setting up a Company or Family Trust and bill the agency or client for their contracting revenue. The answer to the above lies in understanding the Personal Services Income legislation (PSI). This question is not about status as ‘Contractor’. Even though you may meet all the criteria of Contractor and fit the definition of Contracting, this is about how the ATO treats the payments made for tax purposes – as business income or personal income. You need to earn Business income to reap any benefits from Read more
5 Tips to manage your money better
With the economy always changing money management is essential, in fact it is more important than ever. Especially being a contractor sometimes finding yourself between contracts for a few months, or if you want to take a well-deserved break. Being able to save money is a valuable skill to have and is especially useful to deal with changes in personal circumstances or challenging economic times should they arise. Read more
Contractor CVs versus Permanent CVs
Looking for work as a contractor can be difficult, especially when you haven’t got any former clients with new projects on the horizon. Contractors looking for work need to spread their wings a little and consider looking in new directions, and a quality CV is completely essential. Below are some things to keep in mind when writing your contractor CV, ensuring you are best positioned for finding future contracts.
The main difference between a contractor CV and a permanent CV is that in the first instance potential employers are looking to buy your skills and industry experience on a short-term basis. Your role will be to help on a short-term basis, fix problems and deliver instant results. Read more
Contracting can be a scary word for some people; thoughts of job insecurity, remaining compliant at all times, loads of paperwork, and a lack of company benefits can be off-putting for those looking for work. However, contracting has distinct advantages that should not be overlooked by those on the job hunt, such as increased job flexibility, more earning potential, and greater control over finances. So read on, and perhaps you will be motivated to take the plunge into the exciting world of contracting! Read more
A recent survey has found that young entrepreneurs believe that their smartphone is one of the most important tools when running their own business.
The research from Xero found that more than half (52%) of the 500 young entrepreneurs surveyed believe that their smartphone is more important to their business growth than a laptop or car.
Only 27% of respondents said that a desktop PC was the most important business tool for them. Read more
Could you spend three weeks working away from your office?
There are a variety of technological tools, personal assistance and attitude adjustments that can help you keep business going while you are working on the road. Below is a list of 11 essential tools to help you while travelling…
Liability of Payroll Tax
Payroll Tax liability within the on-hire environment has always been surrounded by some sort of uncertainty… does the responsibility lie with the recruitment agency, the end client or the contractor?
Australian Payroll Tax Laws vary from state-to-state. All states and territories the ‘Employment Agent’ provision of the various Acts requires that the company that on-hires the contractor to the end-user client is responsible for payroll tax. Read more
Author: Raj Sesha, Director SDP Solutions and Tax Agent
Highlights for Independent Contractors and Businesses
With the Federal Budget 2014 announced, there was no doubt that we would all be affected in one way or another. We all guessed right in what we were expecting… big cuts and changes. Here we have focused the changes in the Budget that will affect businesses and independent contractors such as, tax, super and Medicare. The Key question that business will be asking, in my opinion is, what will be the impact on job growth and consumer sentiments as a result of this budget.
Choosing the Right Contractor Management Company
Calling all contractors…
- Has your contractor management company gone into voluntary administration?
- Are you experiencing late payments or even worse missing payments?
- Are you unhappy with your current provider?
Don’t be pulled under with your contractor management company! It’s time to break FREE and GLANCE to a more stable contractor management provider.
This announcement comes as a large contractor management company has gone into voluntary administration due to immense financial difficulties, which has had a knock on affect to their contractor base; through lack of payments. Read more
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