A Complete Contractor Service for one low flat fee.
Even if you have multiple clients; Powers Pays makes it so easy. Power Pays provides a legal structure for you to work through whereby we can invoice multiple clients on your behalf. Power Pays will invoice each client at the agreed amount. We deduct the appropriate taxes and super and these are then remitted on your behalf so you’re fully compliant with the ATO regulations.
An example of this would be an Engineer that provides services to a variety of clients over a variety of contracts. Power Pays will invoice each client at the agreed amount. Deduct the appropriate taxes and super. These are then remitted on his behalf and he is fully compliant with the ATO regulations.
Historically a contractor could just go and get an ABN number or set up a company and start contracting. This is no longer the case as it is deemed to be Personal Services Income. Although the contractor with multiple clients may pass the 80/20 rules he would fail the overall personal services income test.
Power Pays contractor management services provides a vehicle for any contractor in this position whereby we will invoice your clients, chase the payments, deduct and remit the necessary taxes and super. You are also able to salary package and in most cases you are just as financially well off as you are working through your own company, except this way you are following all of the ATO guidelines so you do not risk prosecution from the ATO.