Working As A Contractor
Contractors have different tax and super obligations to employees.
As a contractor, you’re successively running your own business. You need an ABN, and you need to pay tax and super. You’re not permitted to paid leave if you get sick or injured. You may have to pay the cost to fix anything you damage in the course of your work. You may also have to pay the costs incurred by someone else if you cause an accident on someone else’s property.
You can be an individual (sole trader), or working in your own company, partnership, or trust. You might even call yourself an independent contractor, sub-contractor or a ‘subbie’.
It’s essential to find out what your tax and superannuation obligations will be as a contractor. Knowing these obligations from the set up can save you time, money and stress later on.
For more information on Etax, myTax ATO and online tax return, please contact us at 1300768284 or you can email us at enquiry@taxrefundonspot.com.au
