Michael (Micksa) Slade wrote:
But there are other advantages. For example you can set up a bank
account under the company's name. Can't do that under a sole trader.
I'm sure there are other little things that I don't know about too.
Are you sure?
I expect that you are correct,
Jacinta Richardson wrote:
Rev Simon Rumble wrote:
This one time, at band camp, Jacinta Richardson wrote:
For what it's worth we probably spend about 3 hours a month (maximum) entering
invoices and receipts into our accounting package, about 2 minutes a quarter
Ben Donohue wrote:
Hi Simon,
Ive been both a contractor and also permanent staff on and off for
many years...
There is a good reason to get a PTY Limited company in that is says
LIMITED.
In short it means that if you do something WRONG they can only sue the
COMPANY for every cent it has.
Scott wrote:
On Friday 22 September 2006 13:33, Adam Kennedy wrote:
What I would look out for is recruiting firms. I had one that
placed me once, into a job I wasn't particularly suited to.
They took 15% from the employer for that. Some time after I
was chatting with them
Hi All,
And while we are bitching about recruiters...
What is the worst cut you have seen in the industry?
For those people who don't deal with recruiters much there are two ways
they get their money.
The first is a one off cost to the employing company as a percentage of
the yearly salary
On Wed, 2006-09-27 at 14:54 +1000, Howard Lowndes wrote:
Gavin Carr wrote:
On Wed, Sep 27, 2006 at 12:28:16PM +1000, Jacinta Richardson wrote:
Rev Simon Rumble wrote:
That sounds doable. What accounting package, if you don't mind?
We use gnucash, but SQL Ledger (
Dazza has raised some good points, but also a few on which my experience
differs. Be aware that I'm based in Victoria, so it's possible that the laws
are sufficiently different between these two states to account for the
difference.
DaZZa wrote:
Maintaining a pty ltd {I.E. acn} company is
This one time, at band camp, Jacinta Richardson wrote:
For what it's worth we probably spend about 3 hours a month (maximum) entering
invoices and receipts into our accounting package, about 2 minutes a quarter
doing our BAS and maybe 1 hour a year doing the tax return.
That sounds doable.
Rev Simon Rumble wrote:
This one time, at band camp, Jacinta Richardson wrote:
For what it's worth we probably spend about 3 hours a month (maximum) entering
invoices and receipts into our accounting package, about 2 minutes a quarter
doing our BAS and maybe 1 hour a year doing the tax
On Wed, 2006-09-27 at 12:28 +1000, Jacinta Richardson wrote:
Rev Simon Rumble wrote:
This one time, at band camp, Jacinta Richardson wrote:
For what it's worth we probably spend about 3 hours a month (maximum)
entering
invoices and receipts into our accounting package, about 2 minutes
There is a good reason to get a PTY Limited company in that is says
LIMITED. In short it means that if you do something WRONG they can
only sue the COMPANY for every cent it has.
Leaving YOU with your house and car and other possessions intact.
If you only have a business name and you do
On Wed, Sep 27, 2006 at 12:28:16PM +1000, Jacinta Richardson wrote:
Rev Simon Rumble wrote:
That sounds doable. What accounting package, if you don't mind?
We use gnucash, but SQL Ledger ( http://www.sql-ledger.org/ ) has been getting
press. We were toying with the idea of moving over,
On Sat, 2006-09-23 at 09:06 +1000, SkoZombie wrote:
though, these days, lawyers claim against both company *and* director
personaly...
and, win...
I'm presently faced with exactly this situation. I've asked four lawyers
and a barister and so far got 5 opinions, all heavily qualified - eg
On Sat, 23 Sep 2006 17:04:48 +1000
david [EMAIL PROTECTED] wrote:
On Sat, 2006-09-23 at 09:06 +1000, SkoZombie wrote:
though, these days, lawyers claim against both company *and*
director personaly...
and, win...
I'm presently faced with exactly this situation. I've asked four
The benefit of the Pty Ltd company is the limited liability. Limited to
the share capital you put into it ($1 shelf company), not everything
that you own and earn. and a slightly better tax rate depending what you
earn, maybe some more deductions for tax, but offset with higher
On Thu, September 21, 2006 9:00 pm, Ken Wilson wrote:
The benefit of the Pty Ltd company is the limited liability. Limited to
the share capital you put into it ($1 shelf company), not everything that
you own and earn.
yes.
though, these days, lawyers claim against both company *and*
On Friday 22 September 2006 13:33, Adam Kennedy wrote:
What I would look out for is recruiting firms. I had one that
placed me once, into a job I wasn't particularly suited to.
They took 15% from the employer for that. Some time after I
was chatting with them and they said oh, if we'd
though, these days, lawyers claim against both company *and* director
personaly...
and, win...
I'm not a lawyer, but, I think, in case of 'one person company' some of
the argument to justify it is, well, that it is 'one person company'
did I say I'm not a lawyer ?
I work a bit in the
The remuneration structure of the industry means they work only for
themselves, and the situation is set up for them to abuse both sides and
use every trick they can to do so.
Recruiting Firms do try to keep both parties Happy!!
It is important for us to place people in jobs that :
1 - They
If you do something malicious as a director then they can get behind the
company and sue the Directors for their houses.
But this has to be proven. If you are just incompetent or unfortunate
then it's pretty much only the company that cops it.
IANAL but that has been my official advice.
Also
Hi folks.
I'm about to start contracting and it seems it's a lot more efficient to
have things wrapped into a company. I've been looking around and seeing
stuff about the 80/20 rule and the like, which determines whether you
can apply company tax instead of personal income tax, and other
On 9/21/06, Rev Simon Rumble [EMAIL PROTECTED] wrote:
Hi folks.
I'm about to start contracting and it seems it's a lot more efficient to
have things wrapped into a company. I've been looking around and seeing
stuff about the 80/20 rule and the like, which determines whether you
can apply
quote who=Rev Simon Rumble
I'm about to start contracting and it seems it's a lot more efficient to
have things wrapped into a company.
Not sure it's worth it for a small operation (sole trader or partners); you
can just get an ABN and get going.
- Jeff
--
linux.conf.au 2007: Sydney,
Hi Simon,
Ive been both a contractor and also permanent staff on and off for many
years...
There is a good reason to get a PTY Limited company in that is says LIMITED.
In short it means that if you do something WRONG they can only sue the
COMPANY for every cent it has.
Leaving YOU with your
Rev Simon Rumble wrote:
Hi folks.
I'm about to start contracting and it seems it's a lot more efficient to
have things wrapped into a company. I've been looking around and seeing
stuff about the 80/20 rule and the like, which determines whether you
can apply company tax instead of personal
quote who=Tim Lloyd
Hardware you can probably depreciate personally anyway.
The big benefit is writing off travel/home office expenses.
You definitely don't need a Pty Ltd to claim for business related expenses!
- Jeff
--
linux.conf.au 2007: Sydney, Australia
Rev Simon Rumble wrote:
Hi folks.
I'm about to start contracting and it seems it's a lot more efficient to
have things wrapped into a company. I've been looking around and seeing
stuff about the 80/20 rule and the like, which determines whether you
can apply company tax instead of personal
On Thu, 21 Sep 2006 18:25:10 +1000
DaZZa [EMAIL PROTECTED] wrote:
On 9/21/06, Rev Simon Rumble [EMAIL PROTECTED] wrote:
Hi folks.
I'm about to start contracting and it seems it's a lot more
efficient to have things wrapped into a company. I've been looking
around and seeing stuff
Hi all
Jeff wrote:
Not sure it's worth it for a small operation (sole trader or partners); you
can just get an ABN and get going.
Jeff gives good advice. Look at setting up as a Sole Trader initially and later
moving to a company if your turnover justifies it. Being a Sole Trader means you
quote who=Michael Lake
(My business Speleonics http://www.speleonics.com.au/business/ is a Sole
Trader.)
I *knew* all that cave-diving was aimed at something. Never thought it would
be trafficking souls to the dark lord.
- Jeff
--
linux.conf.au 2007: Sydney, Australia
To throw in my situation, I'm a Pty Ltd contractor/consultant.
It costs me $2,000 (although increasing now as I do more things) a year
to keep the company going, but the cleanliness of the seperation between
personal and company is something I find refreshing.
As I see it, there's a couple
If you think that you are going to end up hiring subcontractors or staff
(if you move more into the consulting/development direction that just
straight labour hire) you probably want a company too, just for the
accounting cleanliness.
Ook!
That should read consulting/development direction,
Interesting discussion. One thing I'd like to add is that
you might want to inquire of your potential customers about
their requirement for you to hold insurance.
Some governments require that you hold a significant amount
(from memory, enough insurance for a $20m claim) and this
was a major
What I would look out for is recruiting firms. I had one that
placed me once, into a job I wasn't particularly suited to.
They took 15% from the employer for that. Some time after I
was chatting with them and they said oh, if we'd known you
were a networking person we could have got you a lot
This one time, at band camp, Glen Turner wrote:
Some governments require that you hold a significant amount
(from memory, enough insurance for a $20m claim) and this
was a major expense for someone I know who runs a small
management consultancy.
I think everyone in NSW has this requirement.
On 9/22/06, Rev Simon Rumble [EMAIL PROTECTED] wrote:
I've noticed that a lot of the industry super schemes seem to be open
to anyone anyway, so I'm not sure this is such an issue. You're posting
from a .edu.au account though, and I believe they have an industry-only
super fund that is quite
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