I need to charge for a consulting services, just once. What is the cheapest legal way to do it?
Is ABN the only option?
UPDATE:
Got ABN for Free (yay!)
https://www.business.gov.au/info/plan-and-start/start-your-b…
used this template
http://www.intuit.com.au/r/money/free-download-invoice-templ…
Can you please recommend me cheap tax agent (Sydney or online)?
This… takes like 5 minutes.
5 min is not much but then don't you need to hire an accountant to do tax paper work every year? - thats what I am worried about
also how about GST?
You don't have to register for GST if you don't want to.
Doing tax as a sole trader will take you a few minutes, especially if you've only got one invoice.
Seriously just filling in a few fields - income, expenses, incomes - expenses.
I'm assuming your annual income would be low, so you'd only have to do the BAS once a year. Very easy.
You only have to register for GST if your turnover is more than $75,000.
So your invoice would just show the cost of your consulting fee.
yes it will be less than 75000
so I do not have to charge GST? just put GST 0% into invoice?
do you know any good invoice templates?
@evgpek: If you aren't registered for GST you can't charge GST.
Just leave the GST off.
Pick something off Google Chrome Web Store
Thank you guys, just used this template
http://www.intuit.com.au/r/money/free-download-invoice-templ…
Now does anyone knows good tax agent?
Actually, you can use this: https://www.ato.gov.au/forms/statement-by-a-supplier-not-quo…
An individual or a business that supplies goods or services can only complete a Statement by a supplier form if one or more of the following applies:
they are not carrying on an enterprise in Australia
they are an individual under 18 years and the payment does not exceed $350 per week
the payment does not exceed $75, excluding any goods and services tax (GST)
the supply that the payment relates to is wholly input taxed
they are an individual, and a written statement is provided to the payer to the effect that the supply is either
made in the course or furtherance of an activity done as a private recreational pursuit or hobby, or
wholly of a private or domestic nature
they are an individual or a partnership without a reasonable expectation of profit or gain
they are not entitled to an ABN because they are not carrying on an enterprise in Australia
the whole of the payment is exempt income.
great suggestion, thank you! Invoice I need to send is more than that…
What I meant was you can issue an invoice without an ABN and give that form along with the invoice as explanation. Then the payer would not have to withhold 49%. You can then declare the amount you received as other income: https://www.ato.gov.au/individuals/income-and-deductions/inc…
Allowances and other employment income
You may receive other payments in connection with your employment such as:
allowances, such as car, travel, clothing and laundry
tips, gratuities and payments for your services
consultation fees and payments for voluntary services
jury attendance fees.
Just issue the invoice.
In the very unlikely event someone deducts 49% tax from your payment, you would be able to claim that on your next tax return.
Doesn't sounds legal
Is there any company which can issue invoice on my behalf and pay me a salary?
just use this ABN: 26 144 073 772
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that was a joke.
Doesn't sounds legal
Well that's the ATO law. It's just like not giving your tax file number to an employer, they would then deduct tax from your income at the top marginal rate.
Is there any company which can issue invoice on my behalf and pay me a salary?
It's a one off payment, just DIY - issue the invoice.
Yes. Getting ABN number is free and easy. Follow the guidance here: https://www.business.gov.au/info/plan-and-start/start-your-business/business-and-company-registration/register-for-an-australian-business-number-abn