What is a subcontractors statement?

In New South Wales, “subcontractor statements” refer to written contracts that subcontractors provide to their principal contractors. Subcontractors declare through their subcontractor statements that they have met their insurance premium payment, payroll tax payment, and remuneration obligations.

Who needs to provide a subcontractor statement?

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 “ …

Why do I need a subcontractor statement?

A Subcontractor Statement is a contract between a Principal Contractor (yourself) and a Subcontractor. A completed and signed form helps protect you from the Workers Compensation premiums, Payroll Tax and Wages due or payable by the Subcontractor.

What is subcontractor example?

Many small businesses hire subcontractors to assist with a wide variety of functions. For example, a small business might use an outside firm to prepare its payroll, an accountant to help with its record keeping and tax compliance, or a free-lance worker to handle a special project.

What is a sub contractor agreement?

Subcontractor Contract Agreement. Standard. Subcontractor contract agreement is the legal document by the way of which one contractor hires another contractor (thus a subcontractor) to undertake a part of the main contractor’s work.

What is contractors statement of work?

A Statement of Work (SOW) is an important part of both project and contract management that helps guarantee that the work for a project will be done according to certain guidelines and expectations. Contractors or collaborators outside your organization will use the SOW to guide their work during a specific project.

What are the qualifications to become a contractor?

Basic Qualifications. To qualify for a contractor’s license, applicants must be at least 18 years of age and have at least four years of related experience or education. There are no financial requirements for obtaining a license, but applicants must hold a $15,000 bond before receiving a license.

What are general contractors sworn statement?

A contractor sworn statement is a list of every subcontractor, supplier, company and individual who has provided labor, services or materials toward the construction project . It tells clients and general contractors who is owed money, how much and for what work. Fill one out using a template form.