with respect to
controlling your finances. But everyone is different.
Kind Regards,
Steven Parish
From: Dan Cash via ozdotnet
Date: Tuesday, 12 December 2023 at 4:56 am
To: ozDotNet
Cc: Tom P , Dan Cash
Subject: Re: [OT] Contracting PAYG vs ABN
Recommendation
If this is your "one job" ,
*Recommendation*
If this is your "one job" , the cost and hassle of GST and PAYG
accounting, quarterly / annual reporting probably make working through the
ABN more trouble than its worth.
*Background*
For contracting, ABN is frequently tied to a company ("Interposed Entity")
setup both as
You should seek advice from a chartered accountant but briefly, if more
than 50% of your income comes from your own personal efforts then just go
with PAYG.
You're being asked this question because the ATO etc does not like people
who are individual employees behaving as if they're companies when
Hi all,
I’m getting asked by a recruiter whether I want to do PAYG or use a
personal ABN for a contracting position. I never really understood why one
would use an ABN as you’d need to get your own insurances etc. Can anybody
explain?
Cheers
Tom
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