atw: Re: Umbrella companies - long - maybe OT for you
- From: "Diana Muzrimas" <Diana.Muzrimas@xxxxxxxxxxxxxxxx>
- To: <austechwriter@xxxxxxxxxxxxx>
- Date: Thu, 9 Jun 2005 17:11:15 +1000
Everyone has different requirements and preferences obviously.
I used Achieve Corporation for the past couple of years for my pay
administration and found they cover my requirements well. I think they
now also have offices in some other states. I'm content to pay for the
services of an expert provider, and use my time for other things I'm
more interested in doing. It's a matter of finding what fits all your
particular requirements. (www.achievecorp.com.au)
Diana
Canberra
Work 02 6245 2100
=20
=20
-----Original Message-----
From: austechwriter-bounce@xxxxxxxxxxxxx
[mailto:austechwriter-bounce@xxxxxxxxxxxxx] On Behalf Of Terry D
Sent: Thursday, 9 June 2005 2:35 PM
To: austechwriter@xxxxxxxxxxxxx
Subject: atw: Re: Umbrella companies - long - maybe OT for you
I love to say "I hate to disagree", but I'd be lying.
The only reason you should consider setting up a
company is if it gives you advantages in obtaining
work. Like the financial advisers say of real estate
investment, don't do it just for the tax breaks.
I think there are very few tax advantages to having a
company these day--and if you think there are, I'd say
you should be nervous if you get audited.
I have been working through my own company for 15
years and the paperwork effort, when compared to being
an employee, is quite onerous.=20
It can be simple things like getting a warning from
the tax office regarding group certificates. Certain
that I'd done nothing wrong, I spent around two hours
on the phone (because the first two times I had to
hang up after about 30 minutes in the queue!) to find
out it was a 'computer error'.=20
If you time your holidays poorly and miss a due date
for super or BAS, it hits the fan again. I missed a
super payment by two days. For that I had to pay a
penalty of a fixed fee plus 10% of the super bill for
the whole year for all staff.
I know there are plenty of people out there who claim
their travel from home (office) to workplace as one of
the main benefits. I believe the ATO frowns on this
and I never have. Possibly my loss, but there again, I
want good policing, education, roads...=20
But, yes, I do think having to pay close to $40k per
year in tax through the company is also wrong--on what
I get as a personal income.
FBT has captured most of the other previously
available benefits.
Apart from all that, I think it's stupid to pay ASIC
and your accountant $1500 to save $1500 tax. I'm sure
the government would provide better community services
with the money than your accountant does.
My $40k's worth,
Terry
Send instant messages to your online friends
http://au.messenger.yahoo.com=20
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