Before we get started let me say two things: Dave is not a real client. He could be, but he is a combination of several clients and our experiences with their business and their lives. Take advice early. It needn't cost anything and...
As a rule, travel from your home to your workplace is not allowed as a tax deduction because it constitutes a “private expense”. There are some specific situations when you may be entitled to claim the cost of that travel though. One of those exceptions...
Engaging contractors is a sham to avoid tax and other levies - Really? Sometimes this view is promoted by those in the HR industry who have a vested interest, sometimes by those with a political agenda, and sometimes by those infamous know-it-all BBQ advisers. The truth...
As far as misunderstood concepts go the Personal Services Income (PSI) rules are about as misunderstood as the Phantom from the opera. The first thing to understand about being a contractor is the 80/20 rule does not determine whether you can be a contractor or not...
Choosing the Right Structure for Your Business is Critical If you are starting out in business it is important to understand the difference between the structural options available to you. There are 4 common choices for your business but it’s rare I would ever recommend a...
Update as at June 2019. The ATO has always seen contractor payments in the construction industry as a significant tax risk. From 1 July 2018 the contractor reporting regime has been expanded to cover the following industries: Cleaning Courier Road Freight Information Technology Security, and Mixed...