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Old 21st Jan 2020, 01:52
  #20 (permalink)  
Climb150
 
Join Date: Sep 2019
Location: Cincinnati
Posts: 701
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Ducky,

I disagree. I obviously had to pay tax on my earnings but unlike many I still put the appropriate amount in my super. I will give you an example at 2018 tax rates.

Award $690 per week
Super $59.60
Other taxes $65 (includes Medicare)
So take home $565.40

Contractor $900 per week
Super $78.08
Other tax $120.00 (includes Medicare)
Take home $701.92

Better off as a contractor I say. Thats an extra $6480 a year. Easily makes up for lack of paid holidays or sickies.

I believe the ATO now have strict guidelines on who qualifies as a contractor. I dont think I could do it now unless I worked for multiple drop zones during the year (very possible).

Last edited by Climb150; 21st Jan 2020 at 02:04.
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