Section

Financial Estimate

 

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Section

Earning Calculator

 

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Calculate Savings

  Freelance
Comparison Agency PAYG Independent Professional
Annualised Income: x x
Net pay: x x
Effective Tax Rate: x x
Annual Saving: x x
Monthly Net Pay: x x

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What is a Contractor

 

A contractor is a person or entity who conducts their own business.

The conduct of one’s business can be clearly understood in the following sense:-

Are you working under a contract in which you have the right to control the contract and hence control your own actions (contractor)?

Or:

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Are you working under a contract in which you do not have the right to control the contract terms and hence do not have control of your own actions (employee)?

Common law does not provide a definition of a contractor but rather has created a series of characteristics or tests that the Courts believe ‘define’ the behaviour of a person in the workforce enabling the Courts to distinguish between contractors’ and employees.

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Am I Independent

 

Freelance undertakes a thorough assessment for each individual to determine the extend of the financial benefit that would be achieved by being engaged through Freelance as an independent contractor.

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By completing a rigorous and comprehensive assessment of your circumstances, we are best able to determine whether you qualify as a true independent contractor, or if you should be packaged as a PAYG employee contractor.

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Contractor Benefits

 

Our aim is to deliver a range of tangible and non tangible benefits to all contractors across a wide range of industry sectors.

Freelance will ensure:

  • Increased financial wellbeing through effective packaging of remuneration and the facilitation and administration of work assignments
  • Piece of mind through total coverage for income protection, professional indemnity and public liability insurance
  • In house taxation teams for timely expert advice
  • Preparation of a wealth creation plan and portfolio to ensure long term financial security
  • Elimination of all paperwork and related administration
  • More time to devote to activities of interest

 

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Utilising the engagement models of Freelance will deliver ongoing financial returns and significant non tangible benefits.

Recent statistics evidence over 95% of individual contractors achieve a significant increase in their financial wellbeing whilst being engaged by Freelance. This translates into increased individual productivity and loyalty.

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Assessment Process

 

Freelance is Australia’s only true provider and manager of engagement models for independent contractors. By completing a rigorous and comprehensive assessment of your circumstances, we are best able to determine whether you qualify as a true independent contractor, or if you should be packaged as a PAYG employee contractor.

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With either engagement model, Freelance Global Limited provides contractors with a variety of remuneration solutions that are tailored to maximise the benefits of your individual circumstances.
Freelance provides financial packaging and associated benefits that provide piece of mind through risk management.

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PSI am I caught?

 

The purpose of the Personal Services Income (PSI) legislation is to prevent individuals from reducing their tax by diverting their PSI to an associated company, partnership, trust or individual, or by claiming inappropriate 'business deductions'.

There are a number of significant principles involved in determining the applicability of this particular legislation to your status as a contractor.

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To assume the status of a contractor you must understand how the PSI legislation is applied click here for a detailed overview of PSI