Contract sounds like a good idea at the time and may well be but wait till something goes wrong and the operator wants to get out of it your left to carry the can....Oh and if you think that you contract with the operator will cover your backside try it in court and see how far you get (cant make agreements against common law)...not to mention that at one time in the not to distant past you as contract pilot could be held resposible for the excess on insurance. Oh and one more thing the ato ????
ask them for a ruling on your contact setup if your so sure it is legal supplying your services and a crash helmet.
As for wages what choice is there apart from the award rates unless your one of the long white cloud variety of pilot who can do everything cheaper than us aussies...and in the process help to drag the pay rates and conditions of the industry.....down