Frequently asked questions… all you need to know about contracting/freelancing…
- I am considering contracting. Do I have to set up my own company?
– NO. You don’t have to set up your own company. You can work with a contractor management company like Pendragon, which will allow you to benefit from tax-reducing and increase your net income. If you still prefer to set up your company, we can assist you in that too. - I am considering contracting. Can you assist me in setting up an ABN?
– YES. We can assist you in setting up an ABN; however, if you contract through a third-party service provider like Pendragon, you do not need ABN. Please contact us directly so that we can explain this in further detail. - Is there any set-up or exit fees involved?
– NO. There is no set-up or exit fees if you contract through Pendragon. It’s just an ongoing management fee that is agreed upfront. - How do I get paid?
– Pendragon pays you via electronic banking (EFT), which means funds are transferred directly into your account. You will usually receive cleared funds either by midnight, the same day we process the transfer, or by the following morning. - How often do I get paid?
– We believe in making your life easier. We run payroll every business day (except for public holidays). You/your organisation can decide your payroll cycle, i.e., either weekly, fortnightly or monthly. - Do you look after my end of year tax returns?
– YES. We lodge your end of year tax returns for FREE. - What is Living Away From Home Allowance (LAFHA)?
– Living away from home allowance is a tax-free component of your pay that the Australian Tax Office governs. It is paid as a food and rent allowance, and we can advise you whether or not you are eligible for this payment under the tax office guidelines. - Do I have to take out workers compensation, public liability and professional indemnity insurance?
– NO. Pendragon will cover you for all the necessary insurances without an additional cost. - What is Salary Packaging?
– Salary Packaging with Pendragon means you can increase your net income through legal tax-reducing strategies and increase your take-home pay, every pay. - I am a contractor/freelancer working for about three different companies at the moment. If I were to contract through Pendragon, would you charge extra because of additional admin?
– NO. we only charge a percentage fee calculated on income received, so you can work for as many different companies as you wish without incurring additional costs. - I am contracting/freelancing at the moment but have no time to stay on top of my invoicing, chasing payments and am constantly late with lodging my BAS. Can Pendragon help me?
– You already work very hard for a living, and our main aim is to give you back your free time and make your life easier. We will look after all of your invoicing/chasing of invoices and alleviate the need of reporting BAS statements for you. - I have always been a permanent employee but would like to move into contracting/freelancing. What advice can you offer? What can you do to assist me?
– Pendragon can make the transition from being a full-time employee to a contractor/freelancer very simple; all you will need to do is turn up to the client’s site and work. We will take care of setting up contracts and everything else required to start work immediately.
Are you looking to become a contractor/freelancer…? Or are you already an independent contractor/freelancer and looking for ways to make your life easier…? Do you have questions? Contact us directly on 02 9407 8700, or [email protected] and one of our contractor management specialists can explain how Pendragon services can work for you.
