Unlocking Legal Jargon: How an AI Legalese Decoder Can Help NZ Residents Navigate Contracts in Australia
- May 11, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Opportunities in Australia for IT Contract Work
I work in IT and have been offered an opportunity to do some contract work in Australia. The logistics of it all are new to me as I’m currently a full-time employee at an NZ company. I’m not moving to AU, and would be doing a few days here and there (some in person, flying over for a couple of days, some remote/online).
## Seeking Advice for Contract Work in Australia
So I’m looking for any advice / pointers that would make this easier.
### Considerations for Contract Work in Australia
Some considerations:
– Bank account – I (probably) need an AU bank account to get paid into – wise looks like an easy way to do this without having to actually be there to open one.
– ABN – I suspect I need an ABN number to get paid from the company I’d be contracting with.
– Tax – cursory research tells me we have a DTA (double tax agreement) with AU. But the details aren’t necessarily clear and I’d want confirmation from someone other than my own interpretation. It’s not a huge amount of hours too, so I’m a bit reluctant to pay for an accountant to help me figure it out – I don’t want to spend more than I’d make from the work just figuring out tax…
### Seeking Solutions with AI Legalese Decoder
With the above considerations in mind, using AI Legalese Decoder can be a helpful solution. The AI Legalese Decoder can assist in understanding the legal and tax implications of working as a contractor in Australia. It can provide clear explanations of the DTA and help navigate the process of setting up an ABN and establishing the necessary financial arrangements. By utilizing this tool, you can streamline the process and make informed decisions regarding your contract work in Australia.
## Exploring Options for Contract Work in Australia
Given the above – is my best bet to find someone who provides a ‘payroll only’ type service that works in both markets? Do I set up my own company / sole trader type arrangement and try to get an ABN if it turns into an ongoing thing? Are there other options/services to support contractors across the ditch like this?
AI Legalese Decoder can help in exploring and understanding these options, providing insights on the best course of action for your contract work in Australia. It can offer guidance on setting up the most efficient and compliant structure for your contracting activities and assist in making informed decisions for your future endeavors across the ditch.
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Heading: How AI Legalese Decoder Can Simplify Complex Legal Language
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As soon as you are in person you will need to make sure that you meet Australia govt law about conducting business. Aka either have the right residency or a business visa, and declare your visit purpose correctly
As a contractor you will earn all income and manage your tax. Use wise accounts to accept international payments. In nz you declare the untaxed income and also pay provisional tax (not a big deal just make sure you put it aside and pay it)
If you earn more than 60k be aware that you will need to be gst registered. And change gst at 15% for nzd based customer or a zero rate for non nz customers. (If a customer has a nz branch you must contract to it otherwise it’s seen as tax avoidance)
You should also get a decent insurance policy 5million is usually enough. (When business application goes down aka a simple login error you can have massive costs of lost work that can be claimed)
A lot of companies may require you to register an actual company LLC over a sole trader so be aware around this also. – depends on your industry/ sector. – it’s mainly around their risk and compliance departments
You should really get advise and think of it as long term learning. Don’t half arse it.
This is my opinion and no financial advise:
1. Wise if the way, they can pay you in an AU account in AU$, and you can easily transfer it to your NZ account.
2. You can’t get a TFN or ABN if you are not in Australia. You shouldn’t have problems invoicing using your NZ IRD number, many AU companies hire contractors overseas. Agencies might be an option, as some companies don’t want to deal with ABN contractors and require a PTY.
3. You live in NZ and are a NZ tax resident, you don’t have to pay tax in AU. Still look for advice from an accountant regarding GST and provisional tax.
How did you manage to get a contract in aussie anyway? I’ve been trying to do the same thing.
I contracted to an Australian based company for a while, back in 2016-2017. I invoiced monthly for hours worked and they paid me into my NZ account (I had an Aus bank account at the time and asked for AUD paid into that, but for some reason they had to pay me in NZD and into NZ account, can’t remember why). Bank charged me $15 each time too, so make sure you cost that into your hourly rate.