Contract work
Jun 30th 2008, 8:43 am
#1
Just Joined
Thread Starter
Joined: May 2008
Location: Sydney
Posts: 3
Contract work
Hi, can anyone help me, I have moved to Sydney with partner who is on a 457 visa and I am planning to take up temporary/contract work.
From working with Aussies in London I remember many of them set themselves up as limited companies and therefore were able to get tax benefits. Does anyone know about this/ can it be done in Oz??
From working with Aussies in London I remember many of them set themselves up as limited companies and therefore were able to get tax benefits. Does anyone know about this/ can it be done in Oz??
Jun 30th 2008, 12:29 pm
#2
BE Forum Addict
Joined: Jun 2003
Location: Sydney beachside
Posts: 3,505
Re: Contract work
You can certainly do it but, depending on how you work, in most cases it's not worth it nowadays. Most of the old contractor tax lurks were closed a few years ago.
I still have and use my company from the old days (IT contractor), but I wouldn't bother if I'd just arrived. If you work for multiple employers at a time it might be advantageous - but if you work for only one at a time and are really a pseudo-employee, it's unlikely.
Need to see an accountant for the most up-to-date info.
I still have and use my company from the old days (IT contractor), but I wouldn't bother if I'd just arrived. If you work for multiple employers at a time it might be advantageous - but if you work for only one at a time and are really a pseudo-employee, it's unlikely.
Need to see an accountant for the most up-to-date info.
