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12: Contractor Myths - Are They Really Your Employees?
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As a business owner, do you really know whether your workers are legitimate independent contractors or employees in disguise? This is a complex area, but incorrectly classifying workers can lead to underpaid entitlements and penalties down the road.
In this episode, host and tax expert Sally Preston demystifies contractor vs employee status. She explains that while engaging contractors seems the easiest route to save administration and costs, the legal rights and obligations established in written agreements and tax cases determine whether someone is truly an independent business provider or actually your employee.
Sally warns against succumbing to common industry myths and pressures to pass off employees as contractors. She outlines key indicators from control to risk allocation to tools/equipment provision that distinguish contractor relationships.
In this episode of the Smarten Up! The Tax and Business Podcast, you’ll learn:
- Key indicators to distinguish employees vs contractors (03:47)
- Common myths about contracting arrangements and ATO's responses (11:27)
- Payroll tax considerations for contractors (16:50)
- Impacts of misclassifying employees as contractors (20:28)
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