Business Contract vs PAYG
#1
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Joined: May 2005
Posts: 273
Business Contract vs PAYG
what is the difference between Business Contract and PAYG?
i know that Business Contract can claim travel expences if he/she work in different state where they live, house rental, etc. from Tax
can PAYG employees do the same thing?
where can i find more info about PAYG?
i know that Business Contract can claim travel expences if he/she work in different state where they live, house rental, etc. from Tax
can PAYG employees do the same thing?
where can i find more info about PAYG?
#2
Re: Business Contract vs PAYG
Im assuming your refering to a contract for a piece of work you've been offered.
PAYG is normally a straight forward set up where you are effectively a regular employee and your tax/super etc are automatically deducted from your pay and you are paid the net amount into your bank.
Depending on the company/agency you may still be able to claim Living Away From Home Allowances(LAFHA) if you work interstate or overseas from your usual permanent residence.
By Business Contract I assume you mean setting up your own company and getting an ABN etc. In this instance the agency/company who you are working for would pay your company without deducting tax etc and it would be your responsibility to do so, you would generally use an accountant to work out the best structure of running your company etc.
Steve