Here are some answers to commonly asked questions. If you have any further questions, please contact us. Thank you.
Q. Who is CXC Global?A. CXC Global is a global Management Company that specialises in salary packaging, accounting & taxation minimisation services for contractors. A management company is a sophisticated alternative to being payrolled PAYG or using your own structure – in most cases providing users with more cash in hand.
We aim to provide an improved lifestyle through increasing net remuneration along with accounting and administration services - as well as additional benefits including free tax returns and financial advice with affiliated specialist companies.
> Back to topQ. What does the CXC Global Salary Packaging service include?A. The CXC Global Salary packaging service includes all administration processes regarding your payroll, invoicing, collection of fees, calculation and payment of the relevant taxes, superannuation, workers compensation, public liability insurance (PL) and professional indemnity (PI) insurances. You will also have access to MyCXC - our unique E-timesheet system for easy and automated administration.
Additionally, it gives you access to the following options: vehicle leasing, tax returns and independent investment advice, membership of The Australian Computer Society (ACS) and other professional bodies, discounted training programmes as well as other discounted services and goods, including travel accommodation and entertainment.
> Back to topQ. What do CXC Global’s Salary Packaging services cost?A. Generally nothing: in most cases the management fee is covered by the tax savings, hence your cash in hand utilising CXC Global’s services is higher than your net take home pay through PAYG. All CXC Global’s services are billed at rates measured as a portion of income (%) and vary depending on services provided. For a free consultation please contact your CXC Global Account Manager.
> Back to top Q. Is the management fee tax deductible?A. The management fee is 100% tax deductible.
> Back to topQ. Are there any start up or exit costs?A. There are NO start-up or exit costs for using CXC Global’s services. It is a ‘user pays’ system. Through periods of no work there will be no associated costs.
> Back to topQ. I already have a good relationship with my Tax Agent/Accountant; can I continue that?A. Yes, you are free to use any accountant of your choice. In some instances CXC Global will also contribute to your personal tax returns to be completed by your own tax agent.
Alternatively you may use a CXC Global preferred tax agent in any state of Australia who specialises in contracting tax law and tax returns. A simple tax return is provided free of charge once a contactor has been with CXC Global more than 6 months.
> Back to topQ. Do I have to set up my own company?A. No, you do not need to set up your own company. With CXC Global’s Salary Packaging services you become an employee for tax purposes and at the same time reap the benefits of salary packaging expenses to suit your circumstances.
However, if you do wish to set up your own company (Pty Ltd) structure, CXC Global will be able to assist you with a range of services including advising you on APSI or 80/20 rule implications for contractors and insurance options.
> Back to topQ. If I use CXC Global’s services, does the Alienation of Personal Services or the ‘80/20’ rules affect me, and how can I be sure?A. CXC Global’s salary packaging service and structure is compliant with the Alienation of Personal Services Income Bill 2000 (APSI), the so-called ‘80/20’ rules in Australia. Since 2000, the ATO has been targeting Independent Contractors using their own Pty Ltd Structures.
CXC Global has received from the Australian Tax Office (ATO) a personal services business determination (PSBD) which ensures our business structure is legal and complies with the APSI legislation. CXC Global provides independent contractors with the safety and security of being compliant with the ‘80/20’ measures.
> Back to topQ. Is there a minimum time I am obliged to use CXC Global’s services?A. No. CXC Global has a no-obligation opt in and opt out policy with no minimum period you are obliged to use CXC Global services. However additional benefits and discounts apply to contractors that use our services for extended periods of time.
> Back to topQ. How often will I get paid?A. CXC Global pays upon receipt of funds from the agency or client. The pay runs are aligned to work with the agency or client PAYG pay cycle.
> Back to topQ. I already claim tax deductions through my Accountant/Tax Agent, is that the same as what CXC Global does?A. No! CXC Global enables you to access additional benefits not able to be provided by an accountant alone.
Salary Packaging of your contract income using also the Fringe Benefits tax system, enables you to receive a greater range of deductions and benefits. CXC Global also provides a range of additional services including a free tax return and financial consultation, ACS membership, APSI advice and a range of additional services and benefits.
