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IT Contractor - setting up in Brisbane any help please?

IT Contractor - setting up in Brisbane any help please?

Old Mar 24th 2006, 10:00 am
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Arrow IT Contractor - setting up in Brisbane any help please?

Hi there,

I'm off to Brissie in September and work currently in UK as a freelance IT contractor working through own Ltd company.

I've done a reccie trip and met a few agencies etc and got a list of contacts.

But I was after any real life experiences/advice on setting up, i.e. how to start up a company / getting a good accountant / getting a list of decent agencies to email/tax planning etc. any pitfalls etc.....

I work in Project Management.

Any advice very welcome...

Ray
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Old Mar 24th 2006, 10:10 am
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Default Re: IT Contractor - setting up in Brisbane any help please?

I was IT contracting in the UK before moving to SYndey at end of 2005. In Oz most contractors work through management companies rather than own limited companies. i would recommdend investigating the benefits in establishing a relationship with one of the Oz IT management company before you come over.
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Old Mar 24th 2006, 10:41 am
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Default Re: IT Contractor - setting up in Brisbane any help please?

Originally Posted by RayZor
Hi there,

I'm off to Brissie in September and work currently in UK as a freelance IT contractor working through own Ltd company.

I've done a reccie trip and met a few agencies etc and got a list of contacts.

But I was after any real life experiences/advice on setting up, i.e. how to start up a company / getting a good accountant / getting a list of decent agencies to email/tax planning etc. any pitfalls etc.....

I work in Project Management.

Any advice very welcome...

Ray



First of all, be prepared to earn half of your current salary.

It's very straightforward to set up your own company. A major advantage of doing this is that you can pay your salary by attributable income. This means that you pay your salary gross and pay one big chunk of tax annually with your tax return. You have to be disciplined for this to work but it is very useful if, for example, you have a flexible offset mortgage. You pay your tax portion off the mortgage and then redraw it when you have to pay the ATO, therefore paying less interest and so paying off the loan sooner.

They have the equivalent of IR35 here and it is much more difficult to circumvent. If more than 80% of your income is earned from one client than you get caught by it.

Candle are a good agency (well, as good as an agency can be )

Jane
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Old Mar 24th 2006, 2:33 pm
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Default Re: IT Contractor - setting up in Brisbane any help please?

Thanks Jane, very useful. I knew about the salary thing but will look into your other suggestions.

I'd rather be warm and poor rather than rich and cold.
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Old Mar 24th 2006, 9:54 pm
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Default Re: IT Contractor - setting up in Brisbane any help please?

Originally Posted by RayZor
Thanks Jane, very useful. I knew about the salary thing but will look into your other suggestions.

I'd rather be warm and poor rather than rich and cold.
Prepare to be poor and cold! It was bloody freezing last night, I put my cardie and socks on for the first time. Here comes winter. Jim'll have the fire on soon.

Jane
P.S. Good luck with your impending move.
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Old Mar 25th 2006, 8:29 am
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Default Re: IT Contractor - setting up in Brisbane any help please?

Forget to recommend this site http://www.brainbox.com.au
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