Are you a new or existing contractor? If you are a contractor you are responsible for running your own business, this includes having and ABN, insurance coverage, paying personal income tax and superannuation contributions. As a contractor or sole trader, you will also be responsible for declaring all income and expenses incurred during the financial […]
Are you an Employee or a Contractor?
Are you an Employee or a Contractor? The ATO have designed a tool that you can use to work out if your worker is an employee or contractor for tax and super purposes. The decision tool is for use by businesses that engage and pay a worker. To access the tool click here. What this […]
Builders and contractors annual payment report
Builders and contractors annual payment report The ATO has reminded taxpayers that the builders’ and contractors’ taxable payments annual report is due to be lodged by 28 August 2015. Gavin:Â Any clients in the building and construction industry who have made payments to contractors for building and construction services should contact our office. Interested […]
ATO’s 2013 Compliance Program highlights
ATO’s 2013 Compliance Program highlights As usual, the ATO has released its annual Compliance Program, and following are some of the main ‘highlights’ of which all practitioners should be aware. Incorrect work-related expenses claims This year the ATO will pay particular attention to high claims made by: building and construction labourers, construction supervisors and project […]
Contractor & Council Data Matching Program
Contractor & Council Data Matching Program The Australian Taxation Office (ATO) is committed to voluntarily comply with the Guidelines on data matching in Australian government administration (2014) (Guidelines) published by the Office of the Australian Information Commissioner (OAIC). The ATO has advised that it will acquire details of approximately 20,500 individuals providing contractor services to […]
Are you sure your ‘independent contractors’ are not ‘employees’?
Are you sure your ‘independent contractors’ are not ‘employees’? Two recent cases have highlighted how important the distinction between ‘independent contractors’ and ‘employees’ is: in one case, it was held that a plumbing business did not meet its superannuation guarantee obligations in respect of five of its plumbers that it had treated as independent contractors; […]