This is just one of those common myths about contracting, and there are many others. This is absolutely not true, and for those who were given this advice, it’s very likely that you’re doing twice as much tax paperwork as is needed (one return filing for you, the individual one filing for your registered business). For instance, it’s a common misconception that you need to be registered as a business in order to go out contracting. Not only that, but there’s a lot of misinformation (what you need to do to get set up, for example) out there. Planning for your future can be difficult, as you could be earning an income on an irregular basis. And if you’ve been working in permanent employment your whole career, it can be very difficult to actually know where to begin. In spite of all the awesome opportunities of contract work, it does come with many financial obligations that would normally be taken care of by a permanent employer.įor instance, Income tax, GST, ACC, KiwiSaver all get dropped on your plate when you become a contractor. How to Take the Hassle Out of Contracting.What’s the Difference Between a Contractor and an Employee?. If you’re a seasoned contractor, this guide will provide some tools and insights that might have been previously missing from your toolbox. If you’re new to the world of contracting, this guide will steer you in a direction that will hopefully get you more prepared for finding work and knowing what your obligations are. So to help, we prepared this guide that will help you navigate through the different aspects of contracting. Embracing the ‘flexible’ workforce is key for these organisations to attract the best talent possible, with the least amount of risk.īut there’s a lot that people don’t tell you about how to thrive as a contractor, and there are a lot of myths floating around out there.
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