Accounting for Contractors in Canberra
Does your business rely on contractors and consultants for services, advice, and other assistance? Do you want to make sure you are drawing the most talented contractors to your business, even though you aren’t offering them the full benefits of being an employee? Do you want to keep your sharpest contractors around for longer?
If you answered ‘yes’ to any of the questions above, then now might be the time to consider outsourcing your payroll to AchieveCorp to provide thoroughly reliable accounting for contractors.
Why Provide Access to Professional Accounting for Contractors?
Usually, when we think of contractors, we think of self-employed individuals who handle their own accounting, payroll services, superannuation, tax withholding, insurance, and benefits. Contractors provide services to your business—and you pay them well for their services—but the relationship rarely goes beyond the transaction.
In other words, we usually don’t think of contractors as needing contractor accountants. But wouldn’t it be great to know they have had reliable and accurate advice and are complying with the Personal Services Income legislation and paying the correct taxes?
For businesses, this arrangement can be a great one. The company gets a valuable service from a qualified, professional accounting firm and doesn’t have to pay to support a full-time worker in that role. There’s less paperwork—and less work in general—involved in having that person serve your organisation. Plus you can be assured that their advice is accurate, reliable and current.
For contractors without a reliable contractor accountant however, the onus is on contractors to figure out matters of payroll, superannuation, taxation and more. Over time, it may drive some long-time contractors to pursue full-time employment, just because doing so will make their lives a little easier.
By figuring out a structure to include outsourced contractor accountants as part of your service, you can do better at nourishing relationships with key contractors, so they keep playing integral roles in your organisation. However, having ‘contractor accountants’ on hand doesn’t necessarily mean hiring a team of full-time accountants in Canberra. On the contrary, you can accomplish just as much by outsourcing to a company such as AchieveCorp.
AchieveCorp and What We Can Do for You
If you choose AchieveCorp as your outsourced contractor accountants in Canberra, you will get a comprehensive payroll management solution for your contractors. This solution includes a range of different services. For instance, say your company only pays contractors monthly, but your contractors have been complaining and asking for weekly or biweekly pay? With our services, ,a href=” https://www.achievecorp.com.au/services”>your contractors can set up weekly pay, through us, at no inconvenience to you.
We will also work to provide your contractors with other services and perks that they would typically not receive as non-employees. Specifically, we can work with your contractors to set up PAYG withholding, superannuation, and if needed, workers compensation insurance in their package. In essence, we provide your contractors with some of the stability and security of a full-time job, without requiring them to give up the perks of being self-employed (and without pushing your business to add full-time employers to the payroll).
If there is one thing we have learned since starting AchieveCorp in 2003, it’s that all contractors like having their pay, insurance, superannuation and tax planning set up a little differently. Some don’t mind handling everything on their own. Others want a little more assistance. With our accounting for contractors services in Canberra, you can provide your contractors with a broader range of options, with the peace of mind that it’s taken care of by professionals.
Interested in learning more? We hope to hear from you soon.