IT Contracting your way
One of the key advantages of contracting is having a choice. As a Peoplebank IT contractor, you have three different engagement options...
Contracting as a Skilled Flex Worker – Skilled Flex is an ideal option if you prefer the simplicity of Peoplebank managing all the time
Contracting as a Pty Ltd Company - Pty Ltd contracting is an ideal option if you prefer the flexibility and control of running your own company.
Contracting through a Management Company - Management companies are ideal for high-earning contractors who can afford the fee structures and want many of the same financial benefits of Pty Ltd contracting
Skilled Flex Worker
Simplicity
Skilled Flex is an ideal option if you prefer the simplicity of Peoplebank managing all the time-consuming and costly administration tasks associated with being a Pty Ltd contractor.
Peoplebank’s Skilled Flex Worker also receive access to our exclusive Contractor Benefits Program.
As a casual employee, we take care of everything on your behalf including...
Processing your pay
Remitting tax as per your pay cycle
Administering Superannuation to the fund of your choice
Issuing your Group Certificate
Liaising with the ATO
Covering administration costs for Workers Compensation cover
Administering all Workers Compensation claims
Administering $10m of Professional Indemnity and $20m of Public Liability insurance
Paying payroll tax (residents will need a visa to work in Australia)
PTY LTD Contracting
Flexibility
Pty Ltd contracting is an ideal option if you prefer the flexibility and control of running your own company.
As a Pty Ltd contractor, you contract through your own proprietary limited company and need to...
Work with your accountant to set up the company
Register for GST
Procure and administer Workers Compensation insurance
Acquire Professional Indemnity and Public Liability insurance. Peoplebank can also provide these insurances for a small fee of 1% of your hourly rate
Administer your own Superannuation
Complete BAS statements as required
Prepare statutory accounts and pay for associated costs
Contract under the increasing legislative challenges associated with the 80/20 rule
What Costs Are Involved? Contracting as a Pty Ltd contractor involves a significant cost and time investment. Before choosing this option you should first carefully consult with your accountant.
Management Companies
Hassle Free
Management companies are ideal for high-earning contractors who can afford the fee structures and want many of the same financial benefits of Pty Ltd contracting, without all the associated risks and time spent administering a company.
Contractor Management companies specialise in providing support services to independent contractors. Management companies will...
Provide you with a company tax structure to work under
Act as your own tax expert
Take care of all administration and back office support on your behalf
Maximise your tax position
Cover you for Workers Compensation, Public Liability, and Professional Indemnity insurance
What Costs Are Involved? Contractor Management companies charge tax-deductible fees of around 5% per annum.