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Thread: How do you invoice people for your time rather than be paid like a normal job?

  1. #1
    Member Savage1's Avatar
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    How do you invoice people for your time rather than be paid like a normal job?

    The wife is about to start working for 5 different pharmacies part time and she doesn't want to get stung with secondary tax as she will only be doing 20hrs a week or so as she will be working around my roster.

    Basically I have no idea how any of this works, I thought you could invoice the employer for the hours. How much extra do you need to add on to cover ACC levies and any other costs I don't know about?

    Cheers

  2. #2
    Village Idjit Barefoot's Avatar
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    Is she employed by the pharmacies or self employed and contracting to them is the first basic question.
    You can look up the ACC rate for the job

  3. #3
    Member Savage1's Avatar
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    She is employed by one but is wondering if its best to start contracting.

  4. #4
    Lovin Facebook for hunters kiwijames's Avatar
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    She's going to be a contractor then? Best you talk to IRD I think. They'll tell you about what to do. She will need to be GST registered I would expect and set up as a sole trader? There would be a bit of shagging around for only 20 hours a week. Why can't the pharmacies pay her as a casual employee? Make sure she includes these expenses into her hourly rate. There are some very good time management apps available now that integrate with Xero/MYOB etc so invoicing is easier.
    The Universe is a cruel, uncaring void. The key to being happy isn't a search for meaning. It's to just keep yourself busy with unimportant nonsense, and eventually, you'll be dead. -Mr Peanutbutter

  5. #5
    Member 257weatherby's Avatar
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    Spent the cost of an accountants hr to have him (her) plan for you how to get the best out of it, that cost is tax detectable, so you actually lose nothing doing it.
    dirtyhabit, Munsey and res like this.

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    Get the pharmacies to pay her in 'product' then sell it to the junkies for cash. I'm sure you have a ready made customer base.

    Everyone wins
    Toby, stumpy, Tommy and 1 others like this.

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    It's probably easier to stay on wages if she is being paid by one employer but if your saying she will have 5 employer's I think contracting would be the way to go.
    I think they say you should be getting 10-12% more than your normal wage if contracting to cover holiday, sick, Stat pay. Acc normally comes out of your paye so no need to account for it as far as a comparison goes, bear in mind Acc don't normally want to know about you when your self employed. You are not required to be GST regestered unless your making over 60k (I think).
    Pros and cons with everything really and a good accounted would be worthwhile to investigate further, but as far as working out some rough figures I think you need to be working on 18-20% more than your normal hourly (employed) wage to cover all costs involved.

  8. #8
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    All joking aside, from your original post I presume the pharmacies are a chain and she can be paid out of the one cost centre but work at different locations?

    If yes, then she won't incur secondary tax, however to be safe its best to ask the IRD.

  9. #9
    GSP Mad Munsey's Avatar
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    Am I right in saying that if she payed secondary tax . 20 hrs per week she would get a Fair chunk back come tax return time ?
    Rule 7: Avoid alcohol and drugs when handling firearms

  10. #10
    res
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    Quote Originally Posted by Munsey View Post
    Am I right in saying that if she payed secondary tax . 20 hrs per week she would get a Fair chunk back come tax return time ?
    I believe so, had a few employees in this boat and they were very happy when they got there refunds
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  11. #11
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    If 5 different clients, start a company, get xero or something else (xero has some serious downfalls, but some good points), raise 5 invoices per week or month, even if not over gst threash hold register for it but only if using a accounting software(the benifits are worthwhile), go forth.
    It is worthwhile buying/paying monthly for accounting software, as it cuts the accountants bill and you do your own gst etc for the year and only need them for end of year wash up.
    The benefits of having a company are many, ie office costs at home (% of power, phone, etc), office floor space and mortage, buying office canteen supplies(coffee, sugar, dish wash, etc..."), cell phones, etc.... Maybe the 'company' doesnt make much money, but you as hubby suddonly have reduced cost's....
    You will still pay tax ( as you should), but can minimise a bit

    Have had a couple, but hopefully you can read through spelling bulls ups...
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    Maca49 likes this.

  12. #12
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    The real question is why are you letting her out of the kitchen? On your days off she should be looking after sprogs so we can go shoot stuff!

  13. #13
    Bah, humbug ! Frogfeatures's Avatar
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    Quote Originally Posted by Nibblet View Post
    The real question is why are you letting her out of the kitchen? On your days off she should be looking after sprogs so we can go shoot stuff!
    So she can buy him more rifles ! Win !
    He nui to ngaromanga, he iti to putanga.

    You depart with mighty boasts, but you come back having done little.
    Sounds like a typical hunting trip !

  14. #14
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    Quote Originally Posted by Frogfeatures View Post
    So she can buy him more rifles ! Win !
    Ha! I actually lol'd.

    Not likely.
    Savage1 likes this.

  15. #15
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    Quote Originally Posted by Beaker View Post
    If 5 different clients, start a company, get xero or something else (xero has some serious downfalls, but some good points), raise 5 invoices per week or month, even if not over gst threash hold register for it but only if using a accounting software(the benifits are worthwhile), go forth.
    It is worthwhile buying/paying monthly for accounting software, as it cuts the accountants bill and you do your own gst etc for the year and only need them for end of year wash up.
    The benefits of having a company are many, ie office costs at home (% of power, phone, etc), office floor space and mortage, buying office canteen supplies(coffee, sugar, dish wash, etc..."), cell phones, etc.... Maybe the 'company' doesnt make much money, but you as hubby suddonly have reduced cost's....
    You will still pay tax ( as you should), but can minimise a bit

    Have had a couple, but hopefully you can read through spelling bulls ups...
    Give me a pm with your number and times if you want a chat
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