[plug] OT: insurance

[Jason Bainbridge]

I think this is my first post to the list, so howdy all. :)

With the contracting work I've done in the past I've taken the easy way out by 
paying a management company to take care of all of the messy details, I think 
it was about 4.5% that they take as a fee but they take care of the company 
structure, all the tax reporting, insurance and all that sort of nitty gritty 
plus you get all the tax benefits from it.

The way it works is that one of their registered companies are the ones that 
legally take out the contract and then you work as an employee for them to 
carry out that contract, not totally sure how that satisfies the tax man but 
it's all legit. :) 

There are two companies I know of that do it Freespirit (that I haven't used) 
and CXC Contracting (who I have used), CXC were always quite good for me and 
because I was with them just for a small part of this tax year I get my tax 
return done for free still, I guy named Stan Taback is the contact here in WA 
if you want further details just let me know.

Cheers!

--
Jason Bainbridge - jaseone at myrealbox.com
"KDE -- Conquer Your Desktop"
http://kde.org | webmaster at kde.org
kde-www mailing list | kde-www at mail.kde.org

On Wed, 19 Jun 2002 21:52, Craig Foster wrote:
> Please, someone correct me if I'm wrong...
>
> I've seen quite a few contractors start a shell company purely to
> provide a barrier litigation-wise between personal and company assets.
> It can, with the right accountant, pay for quite a few car and
> communications expenses - therefore making the initial costs quite
> reasonable.
>
> Again, seek legal and financial advice before even thinking about what
> I've said :)
>
> Craig F.
>
> > -----Original Message-----
> > From: Russell Steicke [mailto:russells at plug.linux.org.au]
> > Sent: Wednesday, June 19, 2002 11:49 AM
> > To: plug at plug.linux.org.au
> > Subject: [plug] OT: insurance
> >
> >
> > Please excuse the way off-topic question.  I'm asking here
> > because there are probably a few people on the list who are
> > in a situation to know about this...
> >
> > While doing contract work in IT (linux and open source/free
> > software in particular), how essential do people regard
> > professional indemnity insurance?  Who offers such an
> > insurance product in that field?  I'm asking because I've
> > been offered some work, and want to try to go in with my eyes open.
> >
> > TIA, and feel free to reply directly to me if you want to
> > avoid cluttering
> > up the list (more!).
> >
> > Russell