Starting a New IT Contract? Make Your Life Easier by Working with Accountants for IT Contractors in Canberra
You are an information technology expert who tends to do most of your work on a consulting or contract basis. You just signed a significant contract to provide IT consulting and services to a sizeable business or Government Department. After years of working as a full time employee, you are trying to decide whether you should start a new company to handle payroll, tax withholding, workers compensation insurance, and superannuation for your business.
Alternatively, you could use a payroll company and team up with the best IT contractor accountants in Canberra. Which option is better?
Starting Your Own Company or Working with Accountants for IT Contractors: What to Do?
Ultimately, if you haven’t already started a company to house your contract work and you are staring down what is potentially the largest contract you’ve ever landed, you probably should opt to work with a payroll company. You are going to have your plate full doing IT work for your new client, working full time on this and still juggling your other commitments. You probably aren’t going to have time to fill out the paperwork necessary to establish a new company. You also probably won’t want to spend your evenings or weekends preparing invoices and doing the bookkeeping for your company.
Simply put, there is a lot of hassle and work involved with starting and running your own company. These hassles might be worthwhile if establishing your own business provided considerable perks, but it really doesn’t. Financially, there are few benefits allowable under ATO legislation that will provide you with any considerable legal advantages. Said another way, you won’t be any better off establishing a business and handling payroll that way than you would be if you continued operating as an independent contractor and collaborated with a payroll company to handle invoices and bookkeeping.
Finding the Best Accountants for IT Contractors in Canberra
If you are looking for best IT contractor accountants, look no further than AchieveCorp. Since 2003, we have been providing superb accounting services to contractors of all types—not just IT professionals, but spanning other professional industries including finance and professional consulting. We know our way around invoicing, payroll matters, PAYG withholding, superannuation, workers compensation insurance, salary packaging, tax return preparation and all the other considerations on which you’d rather not spend your time. We know that these items are all essential, but we also know that contractors often don’t have the time to give them the focus they demand. With that thought in mind, we happily shoulder the hassle so that you can focus on what you do best.
So organise your contract and get to work providing IT services for your new client. We’ll be there on the fringes, handling your books, making sure you get paid and helping you operate just like an employee—even if you technically aren’t one. To learn more about our payroll services, provided by accountants for IT contractors in Canberra, reach out to us today.