Tax obligations as an independent contractor

As an independent contractor you will be paid a gross sum and need to put aside money for tax which will be payable at the end of the financial year. This is because no one else is withholding tax on your behalf throughout the year.

If you are registered for GST, you will also need to make sure you put aside the GST payable at the end of each quarter if you are registered for GST.

Hnry helps you take care of all your tax requirements, on you mobile. Register an ABN/GST and lodge your BAS and income tax return. Get started here.