Top contractor tips, ideas and news in the industry.
The Contract Life promotes and helps contractors grow their careers by providing the best hand-picked tips, trends and news to maximise their potential.
Long Service Leave in the Construction Industry
Are you someone who works in the construction or building industry? If so, then good news! You may be eligible for long service leave as an employee in the construction and building industry. What is long service leave? Long service leave refers to extended period of...
Self-Managed Superannuation Funds – Everything You Need to Know
Self-Managed Superannuation Funds (SMSF) are an increasingly popular option that many Australians appear to be shifting towards. Fundamentally, SMSFs are a way for Australians to have full control over their investment options. However, there remain main legal,...
How to Pay Superannuation to your Employees
Businesses in Australia who have employees are generally required to make superannuation (or ‘super’) contributions on their behalf. This is a compulsory system enforced by law by the Australian government. What is superannuation? Superannuation is a contribution made...
Organising Payment Arrangements with the Australian Tax Office
Dealing with tax debts can be stressful especially with those unpaid monthly and quarterly amounts incrementing quickly. In fact, many small- and medium-sized business owners in Australia have a lot of tax to pay to the tax office and can't afford it. Fortunately,...
Understanding Industry Awards
Industry awards (also known as modern awards) are a key type of legal document that must be understood in relation to having your own employees. This is essentially a legal document that sets out minimum employment conditions in addition to the National Employment...
EOFY Business and Tax Tips
Practical Tips for End of Financial Year (EOFY) at 30 June Running a small or medium-sized business may result to you having no time to plan. But with the end of financial year just around the corner, it's imperative that you should look at tax planning strategies to...
Federal Budget 2017 – How Will It Benefit Us?
THE 2017/2018 FEDERAL BUDGET On Tuesday 9 May 2017, the treasurer released the annual budget for 2017-2018. The federal budget includes the expenditure and revenue estimates for the next three years and shows what the governments social and political priorities are...
Does your business require Workers Compensation Insurance?
Does your business require workers compensation insurance? You will be quite surprised that worker’s compensation is a big deal for small business owners. There are not many insurances that are compulsory for businesses. Workers compensation however is compulsory if...
Purchasing a Company Car
Should you buy a Company Car Buying a car under the company normally allows for a healthy GST refund and tax savings. However, there is a common misconception that buying a company car will result to huge savings in tax. The rule is you are entitled to claim a...
Infographic on Choosing the best Christmas gifts for businesses
Are you planning to buy your clients Christmas gifts? Make sure you know how it affects your taxes! Is the gift tax deductible? Are there any FBT payable on the gift? Is there any GST credit? Check out our infographic below
ATO Guide for Small Businesses
ATO Guide for Small Businesses Here is a great guide for small businesses and contractors which goes through in detail all the tax obligations and entitlements of small businesses. We think it is a hidden gem and its actually hard to find now as it was an old guide...
