CharlieV Posted June 29, 2015 Share Posted June 29, 2015 Hi All, we're planning to move over to Oz later this summer on a PR 190 visa. I've been offered a role with a small UK company, working from Oz - I'll be the only employee based outside of the UK. My question is - how should I go about getting paid? Would it be best to set myself up as a Sole Trader in Oz and then invoice this company once a month - that way, declare my income in Oz and pay tax that way. I'm hesitant to get them to set up a separate payroll just for me.... Any good accountant recommendations would be appreciated! Thank you Quote Link to comment Share on other sites More sharing options...
Bungo Posted June 29, 2015 Share Posted June 29, 2015 Well it is one or the other, contract and invoice or if you are an employee they will need to sort out payroll. Quote Link to comment Share on other sites More sharing options...
CharlieV Posted June 30, 2015 Author Share Posted June 30, 2015 Thanks, yes, figured it is one or the other. I guess my question was more about which would be the preferred route to go down based on others experience - I guess my biggest concern with invoicing every month is the accounting/tax side of things that would be up to me to manage. And other things, like would I invoice in AUD or GBP for example? And then would that be paid into a UK or Oz bank account and depending on that who pays the transfer fees? Think I need to find a good accountant! Quote Link to comment Share on other sites More sharing options...
Bungo Posted June 30, 2015 Share Posted June 30, 2015 Thanks, yes, figured it is one or the other. I guess my question was more about which would be the preferred route to go down based on others experience - I guess my biggest concern with invoicing every month is the accounting/tax side of things that would be up to me to manage. And other things, like would I invoice in AUD or GBP for example? And then would that be paid into a UK or Oz bank account and depending on that who pays the transfer fees? Think I need to find a good accountant! Well with one you are an employee the other a contractor, which matters to some people, so which would you prefer? Would the company really give you the choice anyway? If I were them, I would not want the hassle of running Australian payroll and superannuation, I would definitely have you as a contractor. I am sure there are some companies in Australia that payroll could be outsourced to however, try googling for some. Your company might also have a view on whether you are paid in GBP or AUD, if they were to give you the choice, then ask for AUD, it is good practice to have income and expenses in the same currency. Quote Link to comment Share on other sites More sharing options...
CharlieV Posted June 30, 2015 Author Share Posted June 30, 2015 That's useful info, thanks Bungo! Agree that their preference will be for me to be a contractor - I've never done that before so a bit of fear of the unknown! Quote Link to comment Share on other sites More sharing options...
CaptainC Posted July 4, 2015 Share Posted July 4, 2015 Your company might also have a view on whether you are paid in GBP or AUD, if they were to give you the choice, then ask for AUD, it is good practice to have income and expenses in the same currency. I second that. I worked in Aus for a British company and was paid in pounds. Worked out ok for a while until the pound started to crash and it became untenable for me. If you're paid in AUD then it doesn't really matter if the pound gets stronger/weaker because you won't feel the difference, and you'll also avoid potentially large currency exchange fees and be secure in the fact that you know exactly how much money you are getting each month rather than second guessing the forex market and getting less (or more) than you were expecting. I was the victim of Sod's Law. When I needed the money most, the arse dropped out of the pound. Quote Link to comment Share on other sites More sharing options...
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