Hiring, rewarding, motivating and retaining artisans paper

Published on 23 May 13 by TASMANIAN DIVISION, THE TAX INSTITUTE

Hiring, rewarding, motivating and retaining artisans, indeed, while ensuring that you are an employer of choice, is quite a task. It is all the more difficult when you are in start-up mode and cash-strapped, as this necessarily limits your choices. Then, there is the bewildering array of state and federal tax legislation to comply with. Some of the issues this paper addresses includes:

• is your artisan an employee or a contractor? This will have implications for, at the very least,income tax, FBT, SGC, payroll tax and workers compensation
• sign-on fees, golden hellos/restrictive covenants and restraints
• what sort of fringe benefit should I provide to be an employer of choice?
• can we income split?
• providing equity generally and employee share schemes in particular
• how to use phantom share schemes – profits versus capital growth/golden handcuff.

Author profile

Paul Hockridge CTA

Paul of Mutual Trust, has over 30 years experience in advising high-wealth families, closely held businesses and accounting and legal firms on tax, asset protection and estate and succession planning. He has particular expertise in litigation support and property development. Paul started his career with the ATO and has worked in major legal and accounting firms. Prior to joining Mutual Trust, he was a Tax Partner at Deloitte Private for several years. For a number of years, Paul has been a regular author and speaker on taxation matters, particularly in relation to tax aspects of business and investment structuring, estate and succession planning and salary packaging. - Current at 26 September 2017

More by Paul HOCKRIDGE

• Dealing with the impact on the business paper - 20-July-2017
• Non-resident CGT withholding – Focus on property paper - 16-March-2017
• Private company capital management – Part 1 paper - 10-November-2016
• Tax effective extraction of retained earnings from “dormant” private companies paper - 22-October-2015
• Tax effective extraction of retained earnings from “dormant” private companies: Case studies paper - 18-March-2015
• What happens when it all goes wrong? paper - 02-May-2013
• Division 7A: Hotspots with common structures and strategies paper - 11-October-2012
• Business succession planning for private business paper - 31-July-2012
• Tax and partnerships paper - 06-October-2011
• Business succession - Demystifying buy-sell agreements paper - 28-September-2010
• Demystifying buy-sell agreements paper - 18-September-2009
• Getting value out of companies - Part 1 paper - 27-August-2009
• Buy/ sell and key man insurance paper - 18-October-2008
• Succession planning: Demystifying buy sell agreements paper - 15-August-2008
• Trust cloning - a practitioner’s perspective paper - 29-April-2008
• Business buy sell agreements paper - 14-March-2008
• Buy-sell agreements and key man insurance paper - 12-October-2007
• Alternative remuneration - what will it take to keep my employee? paper - 08-August-2007
• Buy-sell agreements paper - 15-November-2005
• Tax: divorce and property settlements paper - 07-October-2005
• Consolidations: It's now law. What it means for SMEs - 01-March-2003
• Consolidation: steps to consolidate - 26-November-2002
• GST , FBT and salary packaging - 09-May-2000
• Tax Effective Divorces - 27-July-1999
• Tax effective divorces - 27-July-1999
• Review of Business Taxation: Implications for Trusts - 16-March-1999
• Buy-sell agreements - tax update - 16-July-1998
• Developments in salary packaging - 23-February-1998
• Tax aspects of Buy-sell agreements - 30-July-1997
• Workshop (d) individuals - 30-April-1997
• Fringe Benefits Tax - Opportunities and new developments - 25-February-1997
• Fringe Benefits Tax - Opportunities and new developments - 25-February-1997
• Fringe benefits tax - 06-March-1996
• Debt forgiveness - case studies - 28-September-1995
• CGT - recent developments - 01-January-1993
• Trusts - special issues - 01-January-1993
• Year end tax planning - 01-January-1993
• Year end tax planning for practitioners and their clients - issues affecting clients - 01-January-1992
• Capital gains tax aspects of buying and selling a small business - 01-January-1992
• Issues affecting clients - 01-January-1991

Click here to expand/collapse more articles by Paul HOCKRIDGE.