Accounting for Contractors

Whether you have just started contracting or if you have been contracting for a while and need to get your accounts in good order, we can help. 

Quite often we have clients come to us where their employer has been deducting a withholding tax from their income. What they do not realise is that quite often in such cases they are due a refund!

When you sign up with us, we help you register for the right tax types and provide free advice. Not sure whether to register for GST or not - just talk to us. Not sure what to do at year end - talk to us.

Whether new to contracting or a seasoned contractor, we will guide you through the following (and anything else you might want to discuss):

Set Up

 

  •  Whether you need to register a company or not?
  •  Whether you need to register for GST or not?
  •  Provide a comprehensive list of claimable expenses (dependent on your industry) that you need to be aware of and keep details of. Using home to do some work - don't worry we will take into account that maximum claimable home office expenses.
  •  Provide you with a basic accounts template so you can easily keep a record of you income and expenses. usually contractors do not need a full on accounting system.
  •  We have a streamlined process of getting data from you and doing your books - we explain what records need to be kept and how often you need to provide them to us.
  •  Help you with creating invoices - there are certain things that you are supposed to show on an invoice. Also how to correctly calculate GST on your invoices.

 

 

Tax Obligations 

  •  Advise you of your tax obligations and tax due dates.
  •  Calculate and file your GST returns and Income Tax returns as and when they fall due.
  •  Set up and send reminders on tax due dates. We will always keep on top of your filing and tax's. In addition we advise of your tax obligations at least two weeks prior to the payment date so you have enough time to make the payment.

 

Other

  •  Throughout the year you are free to email through any advice you may need on any accounting/business issue.
  •  Anything else you want to discuss regarding your business

 

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