Subcontractor or self-employed? Hate paperwork?
Leave it to BOB.
Recognising the special needs of subcontractors in the telecommunications industry, the CWU recommends BOB – Back Office Biz – as a way of managing your financial, tax and insurance compliance.
Streamline your compliance as a fully compliant self-employed contractor without the hassle
To operate as an Independent Contractor (ACN or ABN) there are a range of administration and compliance obligations that need to be met and understood.
One in six Australian contractors get themselves into debt with the ATO. Contractors working through the BOB system don’t.
BOB helps you
- Become and stay compliant
- Forget the paperwork
- Get cheaper insurances
- Keep your tax, BAS and GST sorted
- Superannuation payments up to date
- Get access to other subcontracting work through BOBNett.
Entrepreneurs Tax Offset
Starting your own legitimate business in Australia will entitle you to the Entrepreneurs Tax Offset (ETO). The ETO will give you 25% of your tax back for earnings up to $50,000 at which point the refund scales down to 0% at $75,000 earnings. BOB helps to ensure you are set-up correctly so you are eligible for the ETO tax deduction.
BOB is affordable
BOB charges on a percentage basis of 2% + GST on your gross earnings to manage your paperwork and you will only get charged while you are using the BOB system. There are no joining fees, no locked in contracts and no exiting fees.
You can also source work from our job-board BOBNett (extra fee).
The BOB fee is completely tax deductible along with your other business expenses such as insurances. BOB provides all contractors with a Business Folder for you to keep all your financial information together to assist in preparation of your tax.
How Does BOB Work?
You will open a BOB account with the Commonwealth Bank so that BOB can pay your business obligations inline with your instructions.
Your income is deposited into the BOB client account held in your name.
- Insurances – if nominated
- Superannuation – if required
- BOB fees.
plus other nominated services.
The balance of the money is paid into your normal bank account. And you get a statement detailing payments.
Becoming a BOB Contractor is simple: call David Little, your local Back Office Biz Broker on 0419 319 535.