Fees & Charges

Core Management Fee

The Core Management Fee is based on an agreed estimate of the client’s annual revenue and transaction volume, as per the Weekly Core Management Fee table (see below). The fee is calculated as follows:

• The weekly cost is multiplied by the number of Fridays in that month to arrive at the monthly charge.
• At the end of each month, the fees are debited directly to the client’s account.
• Fees will be reviewed each quarter to ensure the appropriate fee is being applied.

Weekly Core Management Fees (excl. of GST)
 

Related Charges

• In addition to the Core Management Fee, standard bank charges apply to the operation of your Cofficient bank account. These fees are imposed by the bank.
• Under government legislation, Workers Compensation Insurance is required. If not already covered, this will be debited to the client’s account, and will be calculated on the amount of salary paid for that month. Premiums are calculated as a percentage of salary depending on the employment classification.
• Additional Services, falling outside of the basic contract, are available to clients on either a fixed price, or time and materials basis. These additional services are detailed below.

Cofficient Services

There are three different classifications of Cofficient services:

1. Core Services – those covered by the basic contract:

• Advice on how to structure your Cofficient membership in the most tax effective manner,
• Access to Workers Compensation Insurance, group superannuation, life cover, and income protection insurance,
• Access to Public Liability insurance,
• Submission of timesheets and invoicing of clients,
• Receipt and Distribution of payments to nominated accounts,
• Completion of one-off payments as instructed,
• Completion, and online variation of, ongoing payments,
• Preparation of Accounts,
• Preparation of BAS returns (not required for Cofficient Management Limited),
• Preparation of ASIC return (not required for Cofficient Management  Limited),
• Provision of appropriate financial information/statement of earnings to banks, life insurance companies etc. on request,
• Secure web site interaction, including e-mail confirmation of both requests from members and actions completed by Cofficient,
• Submit changes to your Cofficient account online via the Cofficient website, or via e-mail, phone, fax or mail,
• Online access to your Cofficient bank account,
• Online tracking of actions requested/completed via Cofficient,
• Online contact, including feedback and contributions, with members of the Cofficient team,
• Access to the Cofficient marketplace and other Cofficient members. The marketplace provides the opportunity to expand networks by posting individual profiles, and searching other Member’s/Associate’s profiles,
• Basic information on compliance; Tax, Superannuation, Insurance, Income Protection Insurance,
• Basic information on obtaining accreditation with government suppliers, industry bodies, professional bodies etc,
• Basic information on government grants/assistance available,
• Basic information on the immigration process,
• Access to online Hot Topics.
• Access to bulk purchasing agreements (as they become available)

2. Fixed Fee Services – those available to Members/Associates via our preferred suppliers.

• One Stop Shop Services for the creation of business/corporate entity, including:
  - Setting up your business name;
  - Setting up your domain name;
  - Setting up a Company, Trust or Partnership; and
  - Establishment of ABN.
• Specific Accounting and Legal services, including corporate entity creation, not covered by the basic contract, (fees provided on application).

3. Time and Materials Services – those charged on a time and materials basis - quotes provided on request

• Assistance with accreditation with government suppliers, industry bodies, professional bodies etc. Note, this is in addition to basic information available under the basic contract,
• Assistance with obtaining government grants/assistance. Note, this is in addition to basic information available under the basic contract,
• Assistance with immigration processing. Note, this is in addition to basic information available under the basic contract,
• Graphic design of corporate logo, web site creation,
• Contractual negotiations with employer on behalf of candidate,
• Provision of mediation services between contractor and employer to assist with:
  - Conflict at work, or
  - Negotiating increases in rates, or differential rates of new/amended responsibilities.
• Obtain Performance Feedback,
• Improve your Hit Rate when dealing with clients. Understand your personality profile and increase your effectiveness.
• Coaching in the area of workplace interactions, interview skills, presentation etc.

Note: A quote for services will be available on request.

Contents

Core Management Fee

Weekly Management Fees

Related Charges

Cofficient Services

• Core Services
• Fixed Fee
• Time & Materials