IP Expenses

[traveller]

Hi All,

I just wanted to enquire how this works from accounting point of view:

My father, age 60+, is basically retired and earns approx 6-7Kp.a at the moment. He agreed to do my book-keeping and records maintenance etc for my IP expenses since January this year. It has been agreed that i will be paying approx @20/hr for approx 4-7 hrs a month depending upon the time spent.

Now my question is that how do i pay him. Is he my Employee or a Contractor or something else. I will be paying him once a 3-6 month as the amount is not much. Is there anybody else doing something like this?

Also can i claim this as a tax deduction?

Thanks-

 

[TheCamel]

Get your father to get an ABN, and then he can invoice you as a "book keeper"

Dunno where the legalities of it stand if he ws to call yourself an accountant though.. might need to be qualified for this.. (CPA or CA or somethn)

 

[traveller]

Thanks.

He already has a ABN. And from the ATO website i basically figured out that he can work as contractor. I just need to now find out what are my obligations wrt to paying him Super etc...

And ofcourse whether the expenses are still deductible or not.