Employee or Contractor – Myths and Facts

The following examines some common misunderstood rules around the employee vs contractor situation.

 

Myth: I have an ABN so I am a contractor.

You may have an ABN but that does not make you a contractor.

Fact: The ATO has various checks to ensure business owners are treating their staff/contractors correctly.

To put it simply, the ATO will look at the work arrangement and the way the payments were calculated etc to determine whether one is an employee or not.

 

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Rental Property Owners: What can you claim?

When investing in a rental property, or wishing to invest in a rental property, you’ll need to keep records right from the start and work out what you can and can’t claim as a deduction.

What can you claim?

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Do you have backpackers working for you?

As an Employer, you are responsible to make sure the tax you withhold from employees’ wages is at the correct level.  For those employers hiring backpackers who are in Australia on a 417 or 462 working holiday visa, you’ll need to follow the tax rate changes that commenced on 1 January 2017.

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Do you use your Car for your business?

From 1 July 2017 the following car threshold amounts apply for luxury cars:

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