Contract work in Australia
Mar 27th 2006, 5:43 am
#1
Forum Regular
Thread Starter
Joined: Feb 2005
Location: Mandurah (WA)
Posts: 53
Contract work in Australia
Hello
I am currently employed, but cutting down my hours (family commitments) I was thinking about getting a ABN number and working for myself and charging my current employer (and any others) for my time. As my turnover will be under $50k I was thinking I could then take advantage of the 25% Tax discount. Can anyone see any problems with this?? I would be doing bookkeeping / BAS work. I know I would not get the superannuation paid by my employer, but the chargeout rate would make up for that.
Also is there anything else I need to think about? insurance maybe? disclaimers?
Thanks in advance for any response.....
Hafan
I am currently employed, but cutting down my hours (family commitments) I was thinking about getting a ABN number and working for myself and charging my current employer (and any others) for my time. As my turnover will be under $50k I was thinking I could then take advantage of the 25% Tax discount. Can anyone see any problems with this?? I would be doing bookkeeping / BAS work. I know I would not get the superannuation paid by my employer, but the chargeout rate would make up for that.
Also is there anything else I need to think about? insurance maybe? disclaimers?
Thanks in advance for any response.....
Hafan
Mar 27th 2006, 6:34 am
#2
Forum Regular
Joined: Aug 2005
Location: Bangkok
Posts: 241
Re: Contract work in Australia
Originally Posted by Hafan
Hello
I am currently employed, but cutting down my hours (family commitments) I was thinking about getting a ABN number and working for myself and charging my current employer (and any others) for my time. As my turnover will be under $50k I was thinking I could then take advantage of the 25% Tax discount. Can anyone see any problems with this?? I would be doing bookkeeping / BAS work. I know I would not get the superannuation paid by my employer, but the chargeout rate would make up for that.
Also is there anything else I need to think about? insurance maybe? disclaimers?
Thanks in advance for any response.....
Hafan
I am currently employed, but cutting down my hours (family commitments) I was thinking about getting a ABN number and working for myself and charging my current employer (and any others) for my time. As my turnover will be under $50k I was thinking I could then take advantage of the 25% Tax discount. Can anyone see any problems with this?? I would be doing bookkeeping / BAS work. I know I would not get the superannuation paid by my employer, but the chargeout rate would make up for that.
Also is there anything else I need to think about? insurance maybe? disclaimers?
Thanks in advance for any response.....
Hafan
I searched for same info sometimes back and this is what I have gathered..
You need an insurance. Also should have the membership from one of the following.. NIA, CPA, CA
I have sent you a PM asking for some information.
thx
