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-   -   What percentage of income do contractors take home? (https://britishexpats.com/forum/australia-54/what-percentage-income-do-contractors-take-home-546040/)

CDM Jun 30th 2008 1:56 pm
What percentage of income do contractors take home?
 
How much of a contractor's income would typically end up in their pocket - after all taxes and other mandatory deducations?

Here in the UK, it can range anywhere from 60% to 90% - depending on how cutting edge you want to be with your finances. What's the typical percentage in Oz?

- CDM

Buzzy--Bee Jun 30th 2008 10:16 pm
Re: What percentage of income do contractors take home?
 
Originally Posted by CDM (Post 6518760)
How much of a contractor's income would typically end up in their pocket - after all taxes and other mandatory deducations?

Here in the UK, it can range anywhere from 60% to 90% - depending on how cutting edge you want to be with your finances. What's the typical percentage in Oz?

- CDM
About 2/3

Buzzy

ossigeno Jun 30th 2008 10:57 pm
Re: What percentage of income do contractors take home?
 
It depends on your structure: PAYG (PAYE), Payroll Co, Ltd Co, Trust. Speak to a good accountant.

There is also personal services legislation in Australia. But not as destructive as IR35.


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