atw: Re: Part-time contracting question

On Thu, 29 Apr 2004 10:39:49 +1000, Marcus Amann wrote:
>An opportunity has come up for me to teach part-time at TAFE for=
 2
>hours =3D per week while retaining my full-time PAYG job.=3D20 A
>colleague mentioned to me it's worth considering setting up a
>company =3D name so that the TAFE income won't be taxed at the=
 highest
>rate. I'd like to hear your opinion if you think this is a
>worthwhile step or =3D perhaps not given the low number of=
 teaching
>hours. Any pointers appreciated.
>

Having been there, done that, when I already had the structure=
 set 
up, I would suggest,   don't bother.    (And in any event, I=
 suspect 
you might find -- depending on who's involved, etc, -- that some=
 TAFE 
 administrators aren't exactly receptive to the whole idea...   =
 
dealing with insurance, workers' comp etc.     And I suspect=
 you'll 
find, when you look at the costs and the returns involved, it's 
probably not worth it.

On the other hand, I would suggest that you get yourself a=
 teacher's 
card and join the Credit union as quickly as possible.  The card=
 gets 
you some price concessions worth thinking about, and the CU is=
 very 
very handy....

I finished up just taking the salary and paying the PAYE  -- but=
 then 
I always hated, and stuffed up, the monthly BAS /GST paper work 
that's involved ....

Good luck.

And don't let the new ones straight out of school get on top of 
you...   mature students are fine, but some of younger ones can=
 be 
pests...     :-) 
     


-Peter G. Martin, 
Technical writer, Proxima Technology


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