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SUBCONTRACTOR S STATEMENT REGARDI NG WORKER S COMPENSATI ON PAYROLL TAX AND REMUNERATI ON Note1 see back of form New South Wales For the purposes of this Statement a subcontractor is a person or other legal entity that has entered into a contract with a principal contractor to carry out work. This Statement must be signed by a subcontractor or by a person who is authorised or held out as being authorised to sign the statement by the subcontractor referred to in any of s175B Workers...Compensation Act 1987 Schedule 2 Part 5 Payroll Tax Act 2007 and s127 Industrial Relations Act 1996 where the subcontractor has employed or engaged workers or subcontractors during the period of the contract to which the form applies under the relevant Act s. The signed Statement is to be submitted to the relevant principal contractor. retention and Offences under various Acts. Subcontractor. ABN. Business name of. Address of subcontractor has entered into a contract with ABN. Note...2 Contract number/ identifier. Note 3 Note 4 subject of the payment claim dated. /. /. Note 5 I. a Director or a person authorised by the Subcontractor on whose behalf this declaration is made hereby declare that I am in a position to know the truth of the matters which are contained in this Subcontractor s Statement and declare the following to the best of my knowledge and belief a The abovementioned Subcontractor has either employed or engaged workers or subcontractors during the above period...of this contract. Tick if true and comply with b to g below as applicable. If it is not the case that workers or subcontractors are involved or you are an exempt employer for workers compensation purposes tick and only complete f and g below. You must tick one box. Note 6 b All workers compensation insurance premiums payable by the Subcontractor in respect of the work done under the contract have been paid* The Certificate of Currency for that insurance is attached and is dated / / Note 7 c...All remuneration payable to relevant employees for work under the contract for the above period has been paid* Note 8 d Where the Subcontractor is required to be registered as an employer under the Payroll Tax Act 2007 the as required at the date of this Subcontractor s Statement. Note 9 its capacity of principal contractor been given a written Subcontractor s Statement by its subcontractor s in connection with that work for the period stated above. Note 10 f Signature Full name ... g Position/ Title Date. /. /. NOTE Where required above this Statement must be accompanied by the relevant Certificate of Currency to comply with section 175B of the Workers Compensation Act 1987. Version 2 Notes 1. This form is prepared for the purpose of section 175B of the Workers Compensation Act 1987 Schedule 2 Part 5 Payroll Tax Act 2007 and section 127 of the Industrial Relation Act 1996. If this form is completed in accordance with these provisions a principal...contractor is relieved of liability for workers A principal contractor can be generally defined to include any person who has entered into a contract for the carrying out of work by another person or other legal entity called the subcontractor and where employees of the subcontractor are engaged in carrying out the work which is in connection with the principal contractor s business.
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Comprehensive Guide to the Subcontractor Statement - OSR Form
Understanding the Subcontractor Statement - OSR Form
The subcontractor statement - OSR form serves as an essential document for subcontractors who have engaged with a principal contractor. This form verifies compliance with relevant laws and regulations regarding workers' compensation, payroll tax, and remuneration. It represents a legal acknowledgment that a subcontractor is fulfilling obligations in accordance with applicable acts during the contract period.
Key Features of the Subcontractor Statement - OSR Form
This form includes critical information that must be accurately completed. Notable features include sections for the subcontractor's business name, their Australian Business Number (ABN), the principal contractor’s details, and the specific contract number. Signatures must be provided by authorized individuals, asserting compliance with employment laws.
When to Use the Subcontractor Statement - OSR Form
The subcontractor statement should be utilized whenever a subcontractor has engaged workers or other subcontractors during a specific contract period. It is particularly relevant for contractors that fulfill statutory duties, demonstrating that they have met necessary legal obligations regarding employee welfare and taxation.
Who Needs the Subcontractor Statement - OSR Form
This form is crucial for subcontractors operating in various industries, particularly construction, where there are stringent compliance requirements. Any business or individual acting as a subcontractor must complete this statement to ensure transparency and adherence to labor laws when claiming payment from a principal contractor.
How to Fill the Subcontractor Statement - OSR Form
Filling out the subcontractor statement requires meticulous attention to detail. Begin by entering the subcontractor’s business name and ABN, followed by the principal contractor’s details. Clearly indicate the service period and the payment claim date. It's important to confirm whether any workers or subcontractors were engaged during this period and tick the relevant boxes to indicate compliance.
Best Practices for Accurate Completion
Ensuring the accuracy of the subcontractor statement is critical for compliance and to avoid potential legal issues. It is advisable to double-check all entered information, use clear language, and ensure that all parties involved understand their responsibilities. Consulting with a compliance expert may also enhance the quality of the final submission.
Common Errors and Troubleshooting
Common mistakes when filling out the subcontractor statement include missing signatures, incorrect ABN, and failure to confirm the employment status of workers. To troubleshoot these issues, maintain a checklist prior to submission, review all sections carefully, and consult legal resources if uncertainty arises.
Frequently Asked Questions about subcontractor statement nsw form
What happens if the subcontractor statement is not submitted?
Failing to submit the subcontractor statement can lead to payment delays and possible legal repercussions for non-compliance with labor laws and tax regulations.
Can multiple subcontractors use a single statement?
No, each subcontractor must complete their own statement to ensure accurate reporting of their specific engagements and compliance.
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People Also Ask about nsw subcontractor statement
What to know about being a subcontractor?
A subcontractor is someone who sets their own hours and chooses the work they want to do. They get paid by the contractor for their services, and have to pay their own taxes, provide their own tools and supplies, and do not generally receive health insurance, benefits, or vacation time from an employer.
What is the purpose of subcontracting?
Hiring subcontractors allows your business more flexibility than if you were to hire new, permanent employees. Rather than bringing them on for long term work, you hire the contractors to work on a few short term projects and then part ways.
What is a Subby statement?
In New South Wales, “subcontractor statements” refer to written contracts that subcontractors provide to their principal contractors. They apply to specified periods of subcontracted work.
What is subcontracting in simple words?
to pay someone else to do part of a job that you have agreed to do: Most of the bricklaying has been subcontracted (out) to a local builder.
What is the difference between a 1099 and a subcontractor?
A subcontractor is a worker who is not your employee. You give a Form 1099 to a subcontractor showing the amounts you paid him. The subcontractor is responsible for keeping his or her own records and paying his or her own income and self-employment taxes.
Can I verify a subcontractor over the phone?
You should verify all your subcontractors online using the HMRC CIS online service where possible. This will update the information held on the subcontractors' records within the service. In certain cases, you might need to verify one or more subcontractors by telephone through the CIS Helpline.
How do I check my subcontractor CIS status?
There are three ways to verify a subcontractor: use HMRC's CIS online service. call HMRC's CIS Helpline - 0300 200 3210. use a third-party software package.
What is a subcontracting example?
Subcontractor example For example, a building contractor may hire a subcontractor to complete the electrical wiring part of the contractor's building job. The contractor is responsible to the client for the building job including the part performed by the subcontractor.
What is a subcontractors statement?
A subcontractor statement is a written contract between a subcontractor and principal contractor. It is provided by a subcontractor and applies to specified periods of subcontracted work, most commonly performing work on a construction site.
What is a Subconsultant agreement?
A subcontractor agreement is a contract between a subcontractor and another contractor that defines a specific portion of work on a larger construction project.
What do you know about the subcontracting?
Subcontracting is the use of a third party, or subcontractor, by the main contractor to help fulfil the overall obligations of the contract.
What are the benefits of subcontracting?
If you decide to start your own subcontracting business, you'll be able to reap many of the most significant benefits of working as a general contractor — like greater flexibility in job hours and scheduling. You'll also be less committed to the clients you work with.
Is subcontracting a service?
On the one hand, subcontracting is pretty close to outsourcing when a firm hires a service provider to complete the desired task that typically cannot be done by in-house teams. It is the practice of assigning, or outsourcing, part of the tasks under a contract to another party known as a subcontractor.
What are the types of sub contracting?
Here are the main types of subcontractors: Carpentry and Flooring Work. Building and installing cabinets at a job site is the specialty of carpentry subcontractors. Concrete Work. Electrical Work. HVAC. Landscaping. Masonry and Stone Setting. Painting and Paper Hanging. Plumbing.
Who hires subcontractors in construction?
Subcontractors are hired and paid by the contractor. The ideal relationship between contractors and subcontractors is a symbiotic one. Contractors need subcontractors for their skills and hard work, and subcontractors need a contractor's large network of clients.
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