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Becoming an Incorporated Company
Friday 16, April 2010Further to the previous article on Qld Health Employment Changes, if you are a sole trader and would like to become an incorporated entity so that you can continue to work as a contractor within Qld Health, the process is relatively simple.
It is possible to purchase a ‘shelf company’ for approximately $1250-1500. This includes the company and then registering for a tax file number, ABN and GST. A shelf company can be purchased overnight and you should then allow 2-3 weeks for the ATO to process your application for an ABN etc.
When contracting as a company there are accounting responsibilities that you may not have encountered whilst working as a sole trader, such as having to lodge a quarterly BAS. In the longer term, if the interest is there, Health 24-7 will be offering a bookkeeping service to assist locums working as an incorporated company, in addition to the currently offered service of invoicing on your behalf.
If you are interested in this process or just want further information, please contact us. Alternatively, consult your accountant and they will be able to go through this process with you in greater detail.
