Taking money out of a limited company for personal use Many contractors choose to operate out of a Pty Ltd company as it is the most suitable structure for them. A Pty Ltd Company is a separate legal entity and thus, all the money and assets belong to the company as opposed to the shareholders…
The Tax Guide for Contractors, Consultants, Freelancers and Locums As a consultant, contractor, freelancer and locum there is a range of taxation obligations you are required to deal with. It is important to speak to your accountant or the Australian Taxation Office (ATO) and Office of State Revenue (OSR) to ensure you have met all…
There is a lot of conjecture as to whether a written contract is required for all agreements or is a verbal agreement also legally binding? The answer to that is that both verbal or written can be legally binding. However, do we recommend it? And the answer is no. Why written contracts are better than…
Steps you need to take when making the move from permanent to contracting So you have decided that you want to make the switch from permanent to contracting. Leaving the security of a full time permanent role can be quite a daunting move but very rewarding if done correctly. As you are taking upon more…
Business Bank Account Guide for Contractors If you are operating your contractor business under a company, you will require a business bank account under the company name. The company is a separate legal entity and the company’s money must be held by the company. If you operating under your personal name (as a sole trader),…
What types of insurance for contractors, consultants, freelancers and locums? Contractors in every industry face risk on a daily basis. Thus it is essential to manage those risks by taking up the correct insurances. There are a range of insurances that a contractor can take up to ensure that their business runs smoothly. To choose…
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