Thanx for the link Frank. I did have a go at finding, but beer googles put a stopper on that.
I note that with this release of it, I am some $40 closer to the threshold than I was before... Single, no yard apes.
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Bas,
going Pty Ltd would actually impose more costs upon myself that would be better off spent at the fang doctors.
Every tax I would face changes for the worst.
There is setup cost.
I lose the ability to prepare the tax returns the business. Must be done my an accountant.
Theres also an extra charge with ASIC.
I am forced to pay Workcover
I am forced to pay myself Super.
Pty Ltd does have some advantages, but not when you do not have any employees.
The workcover rules a lil bit dumb, but to keep it simple.
As a Sole Trader.
No employee's. Workcover ins not required provided you have Death/TPD cover. (There was some crap on the table that they were going to force us into Private health) but thankfully got canned.
With 1 or more employee's, I have to submit and I get covered as well. Interesting to see the numbers tho. My first employee was an apprentice, which the government pays the cover on atm. The fee to cover me was roughly 150 per year over the term of my apprentices time.
As a Pty Ltd.
No employee's. No such thing. I AM the employee, so i have to pay everything. Don't think i need to cover having employees after that.