IITRS contractors have access to the following options that will suit your personal and financial situation;
Contracting as a PAYG (Pay As You Go) Contractor
We provide the following administrative services:
- Processing your payment
- Remitting PAYG tax to ATO
- Administering Superannuation to the fund of your choice
- Salary sacrifice of additional Superannuation contributions
- Issuing your Group Certificate
- Covering administration costs for Workers Compensation cover
- Administering Professional Indemnity and Public Liability insurance
Our costs is 2.5% administration service fee on your gross hourly pay before super and tax is calculated.
This fee is inclusive of 1% Public Liability and Professional Indemnity Cover.
Contracting as a Pty Ltd Company
We require the following documentation
- ABN registration number
- Workers Compensation Cover
- Professional Indemnity & Public Liability Insurance Cover
If you don’t have PI/PL cover you can access ours for a fee of 1%.
Contracting through a Management Company
Non-residents choose this option.
Management Companies is for high earning contractors who can afford the fee structures and enjoy many of the financial benefits as Pty Ltd contracting.
Contractor Management companies charge tax-deductible fees up to 5-7% of your rate.
Sole Traders are treated the same as an Individual (PAYG) even if they have a Tax File number they are set up as PAYG contractors.