n Tax Breaks Newsletter - Good news for embattled independent contractors : 'personal services'




Extracted from text ... MONEYWEB No. 251 December 2006 'PERSONAL SERVICES' Good news for embattled independent contractors By KATHY THERSBY SINCE many of our readers are independent contractors who have struggled to avoid having employees' tax deducted from their fees, and having deduction of their expenses denied, we welcome the recent narrowing of the definition of "personal service company" and "personal service trust". A common tactic previously used by someone wishing to escape the net of employees' tax, and the deduction of PAYE and SITE from their pay packet, was the formation of a company, close corporation or trust. The person would then contract ..


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