Eldest son in his early twenties has about 3 years experience as a shed builder, but in the past it has been Cash and now it is Casual. With all the wet weather it is hard to get a complete weeks work. Even though the money is reasonable about $900 per week, the work is not all the time due to the weather. So he has been told about a job as a sub contractor earning about $1750 per week before tax, he would have to get an abn and do bas and claim expenses etc.
I can not advise him as I do not know about subcontracting and the tax rate or what he can claim, can anyone tell me which would probably be the best financial decision thanks
Looking to Change Work Want to Get Some Idea of Sub Contracting Please
hsk on 05/02/2016 - 22:26
hsk not sure if anyone answered you on this question but….
Getting an abn and working as a sub contractor is no big deal. Setup as a sole trader. Keep receipts for all expenses related to the work, such as industrial tools, industrial safety gear, branded work gear, mobile phone used to facilitate work, etc.
Any local accountant will be able to advise for around 100-200 total of the requirements.
Based on 900 vs 1750 per week and more stable work, I think it's a no brainer.
But nobody, including me, should give definitive advice on here. Seek professional advice as the next step for sure.