News

Avoiding common Contractor pitfalls

While the lure of flexible work hours and great work life balance is an attractive benefit of being a contractor, there are many pitfalls you should avoid to ensure the longevity of your work freedom.

Time and time again we see contractors making the same mistakes, which form bad habits and can lead to long term problems.

Here are some Ayers tips to avoid common contractor pitfalls:

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Penalties for Payroll Non-Compliance

The payroll compliance landscape is constantly changing and making it increasingly difficult for businesses to meet their compliance obligations. This has seen enforcements issued by Fair Work Australia more than double between FY 2013–2015, delivering $1.9M in payments to employees.

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Want to earn yourself an extra $300?

We’ve introduced a Contractor Referral scheme which can earn you up to $300 Eftpos gift voucher each time you refer a colleague or friend that utilises our services.

If you want to find out more about how you can earn more money, please feel free to call one of the friendly Ayers Team on 02 9923 9900 or email: clare@ayers.com.au for further information


Ayery Mo’s

Once again we are delighted to be supporting Movember, a cause close to our hearts and one that proves as rewarding as it is fun.

We’ve got some great prizes up for grabs and of course, a goal to make 2015 our best collective effort yet to support men’s health in Australia.

So visit ayerymo.com.au and register yourself, remember to share with family and friends and get ready to down those razors from November 1st.

Get your ‘Mo’ on!


Introducing our newest member to the Payroll Team

Katherine joins us with an extensive outsourced payroll background, she grew up on the South Coast of NSW.

Starting work as a receptionist in Sydney 6 years ago, her penchant for organisation smoothed the way for a quick transition into Payroll, which she’s loved…

“Everybody looks forward to payday, so it’s rewarding to know that I’ve played some part in making people’s lives better, paycheque by paycheque.  

A few years ago I followed my sister and adorable nephews to regional Queensland, where I remained in payroll, returning to my original place of work in Sydney more recently.

Ready for a new professional challenge and the chance to be part of a thriving business, the opportunity to join Ayers is perfectly timed. I’m really looking forward to joining the team at Ayers and speaking with the contractors and clients!”


Register Now For Our Free Financial Services Seminar

***LIMITED PLACES AVAILABLE*** 

If you would like to hear more about financial planning for wealth or ask Tanya a question, then why not join us for our Contractor Seminar, Pathway to Wealth, with Tanya Carlson.

Learn about:

  • Property
  • Shares
  • Superannuation
  • Negative Gearing
  • Accessing Equity
  • Debt Management
  • Capital Gains Tax, plus much more

Save your place now as we only have limited spots available!

November 12th 6pm – 7.30, Suite 30, Jones Bay Wharf, 26 – 32 Pirrama Road, Pyrmont.

Beer, wine and snacks provided.

Email clare@ayers.com.au to book your place and receive more details


A BIG thanks!

Once again we would like to say a huge thank you to all those who afforded the time to complete our recent contractor survey, your time and feedback is really appreciated!

Whilst over 70% of you stated that income is the main appeal of contracting, many of you also claimed that ensuring continuity of work and managing salary, expenses and tax liabilities is of concern.  52% of you enjoy the flexibility and variety of being a contractor, however 40% stated that ensuring the continuity of contracts is the major issue.

So you know that we’ve taken your feedback seriously we’ve already implemented a few changes.

  • Over 50% would be interested in attending a FREE seminar that relates to specific industry topics – check out one of the other stories for the ‘Build Your Wealth Seminar’ on the 12th November at 6pm
  • We’ve introduced a new Contractor Referral Scheme where you get rewarded up to $300 for referring your friends and colleagues!
  • We’ve introduced a Contractor Offer page on our website – designed to get you discounts at some of Australia’s leading firms. Retailers, Financial Brokers, Mortgage Brokers…. tell us what more you’d like to see!
  • More regular contact… On top of the introduction of the quarterly newsletter, you’ll start to see ‘news flashes’ and 3-4 weeks from the end of your contract you’ll be getting a call from one of our friendly client services team (Sallyanne, Jenna or Greta) as a reminder that your current contract is coming up for extension time…

Over the next few months we’ll be holding regular seminars about the topics that are of most relevant to you. Your responses show that Salary & Expenses, Tax, Superannuation, Financial Planning, Immigration, Interviewing and recruitment advice along with hearing about other contractor experiences.

Watch out for more future changes!

 


News – Contractor Discounts

To get you the best deals, we’ve teamed up with some of Australia’s finest companies to get you a discount…

Over the next few months we’ll be growing our list of benefits for you, so keep your eyes peeled for the latest offer!

LOVE LUGGAGE – 10% off any order

If you’ve got a holiday planned and looking for some new luggage or maybe even a new Business Bag, Wallet, Rucsac or luggage accessory why not visit their website and check their huge range of really cool stuff!

Don’t forget if it’s for business use, you may be able to claim it as a tax deduction the next time we pay you – Keep your receipt 😉

They stock a huge range of brands including Crumpler, Knomo, Lojel and many more.. check them out!

As an Ayers Contractor you’ll be entitled to 10% off any order – just quote ‘loveayers’ in the coupon code (on their website loveluggage.com.au)


10 minutes with Tanya Carlson, Financial Adviser, Amplify Wealth.

Amplify Wealth Management is a boutique business that focuses on the building wealth and financial independence of its clients. It’s a very personal service. Our clients find great peace of mind knowing they have a plan in place, that’s delivered in a relaxed yet efficient manner. It’s a plan that suits them but it’s also a plan that can adapt and change with them along the way.

What do you see as the biggest financial gain for Australian contractors right now?

Contractors are fortunate in that they are able to take advantage of salary packaging which can, potentially, minimise tax.

How would you rate Australians in terms of their management of personal finances and planning for retirement?

On average about a 4 out of 10! We have become a society of “I want now….” And so people don’t plan for their future. Superannuation is an amazing investment vehicle but again most Australian’s don’t pay too much attention to their super. It’s boring and complex so they ignore it!

If you were to give your 18 year old self one piece of advice what would it be?

Salary sacrifice 5% of your wage – always. You won’t even notice this small amount out of your pay but the wonders of compound interest will make a HUGE difference to your super at retirement!

How often should Australians review their financial planning?

As a minimum you should review your plan each year – nothing may have changed but your adviser is also there to help keep you accountable and on track to achieve your goals. If you have a more complex situation you can nominate up to 4 reviews a year if you wish. It’s a personal thing, some people want to know their adviser to call them regularly, while don’t want to hear from you all the time, they just want to know you are looking after them.

What’s the biggest risk for contractors in relation to finance?

Often it’s cash flow. Contractors earn great money but can sometimes have gaps between the end of one contract and the beginning of another. Planning ahead for those “in between times” can be important.

For others it may be difficult to get finance approved as a contractor – we work with experts in this area to make this happen.

If you would like to hear more about financial planning for wealth or ask Tanya a question then why not join us for our first Contractor Seminar, Pathway to Wealth, with Tanya Carlson. November 12th 5.30 – 7.30, Suite 30, Jones Bay Wharf, 26 – 32 Pirrama Road, Pyrmont.

To book:

Just send an email to clare@ayers.com.au with the words ‘Pathway to Wealth I’m in’!


Understanding the outsourcing industry

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Outsourcing is the term given to a business that contracts a portion of its business to a third party. Typically, the third party is a specialist in the specific area their client has outsourced to them. For example, a retailer that sells apparel launch their own brand after many years of selling other brands. They have the expertise, the experience, and the operational capacity to sell, market, and distribute the apparel, but know nothing about production and manufacturing.

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