contract work rules
Out of context: Reply #7
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- nosaj0
Here's the skinny:
1) No Vacatin Pay, no EI bennifits, no CPP.
2) If you make over $30,000 you need to remit 15%HST to the gov. You'll need to register as a Sole Proprietor and get an HST number. Bill 15% tax on every invoice you send them. Otherwise you will be stuck with a huge tax bill at the end of the year or screwed when you get audited.
3) set your personal income tax aside.
4) Write off everything you can. You car, part of where you live, Internet connectipn, Power etc...
Lot's of shops seam to hire contractors to fill a fulltime position. There are guidelines your client/boss legally should follow. These include if you are always on site, using their equiptment, taking consitant direction from them.
If you're goign to be a contractor charge way more then hte hourly rate you would be willing to accept as a fulltimer.