Published on 23 May 13
by TASMANIAN DIVISION, THE TAX INSTITUTE
Hiring, rewarding, motivating and retaining artisans, indeed, while ensuring that you are anemployer 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.
This paper covers:
- 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.
Paul Hockridge FTIA is a Tax Partner at Deloitte with over 30 years
experience in Tax, asset protection, estates-succession planning,
FBT and salary packaging. Paul specialises in advising high wealth
families and closely held businesses and advises mainly accounting
and law firms. Paul is a member of various professional association
committees and has been involved in consultation with both Federal
and State Governments on a variety of tax matters.
Current at 17 October 2008
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