Optimise your pay Salary Sacrifice it! Thinking about that new smartwatch? Salary sacrifice it! In today’s work environment, it’s too easy to get sucked into time-wasting activities like scrolling message chains and social media feeds, reading news sites and getting lost in your email inboxes (yes, who else has way too many inboxes?). Enter the…
Are You an IT Contractor Working Away from Home in Australia? As an IT contractor working away from your usual place of residence, you might be missing out on a significant tax benefit that could maximise your earnings and help manage the extra costs associated with living away from home. Enter the Living Away From Home…
Travel allowance for IT Contractors: Not just another Per Diem Think travel allowances for IT contractors are just about covering meals? Think again! As payroll experts at Bookssorted, we’ve seen firsthand how misunderstood travel allowances can be. Let’s demystify this topic and explore why it matters for IT contractors in Australia. The three pillars of…
Abn or Payg Comparing the differences between PAYG and ABN Have you ever wondered about the differences between PAYG and independent (ABN) contractors? Perhaps you’ve sometimes pondered if you’re in the most beneficial setup? In this post I’ll explore the differences, with a laser focus on the costs and convenience factors associated with each. Before…
Refer-a-Friend and be rewarded Get yourself and a friend into the winner’s circle with our Refer-a-Friend Program. We will thank you with a $250 voucher for each referral who joins and stays with us for at least eight weeks. And your friend? As well as enjoying the many benefits of being part of the Bookssorted…
Payroll Myth #1 – “but I am being offered a free tax return…” This one we hear often! Payroll companies and recruitment agencies will often offer a “free tax return” as part of their services. This may be convenient and appropriate for individuals earning less than $50,000 but it is not generally recommended for individuals in…
New financial year = new tax rates, caps, and super guarantee. With the new financial year comes a handful of changes for you to familiarise yourself with. I’ve summarised them for you here. Income Tax Changes Starting from 1 July, 2024, there will be significant adjustments to the income tax brackets and rates. $0 –…
The budget and you – Its impact on IT Contractors If you’ve kept an eye on the 2024 Federal Budget coverage, you’re no doubt aware of one announcement likely to impact IT Contractors –the Federal Government’s shift towards reducing its reliance on them. While this will understandably ring alarm bells, a deeper dive into the…
Discover the benefits of salary packaging electric vehicles for IT contractors in Australia. Learn about FBT exemption, tax savings, and the growing importance of electric vehicles in the market. Embrace a sustainable and financially advantageous choice.
Time for a change? 6 questions to ask yourself before you do Changing jobs can be an important and daunting decision, particularly for IT contractors. As a payroll company for IT contractors we often deal with clients that asking themselves “should I stay or should I go?” Many factors come into play when deciding to…
