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James Millar
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JohnQuixote, post: 261051, member: 111806 wrote:
Hi everyone,

I’m a financially hapless scientist and was hoping to get some advice from the community.

I’m taking the majority of the current financial year off work due to illness, but have just undertaken 5 weeks of intense work for a recruitment agency and am owed around $35,000.

I was told in my initial agreement that the hospital in which I was working would pay this money, however now that I have finished the placement I’ve been informed that the recruitment agency should pay me.

The agency has told me that to get payed I have to join their preferred third-party company (which charges a 10% fee) who will organise my payroll. They have said they will only pay me directly the full sum if I am registered as a Company or a Trust (I’m currently registered as a Sole Trader).

So, basically, I was hoping to get some information on registering as a Company or Trust for the sole purpose of obtaining this money from the forces of evil who are trying to siphon off as much as they can. I don’t know anything about finances or business, but was hoping someone could give me some general pointers about the costs/complexities of utilising either of these tools.

I could always just acquiesce and go through the third party, but given how poorly the situation has been managed I’m not keen to be co-erced into using them.

What state are you in John? It may be cheap enough to setup a trust with an individual trustee. Probably around $500. Then you may be able to source accounting and trust reporting for the one year and close it – probably another $1000. So I think its probably close to $1500. Company would add too much. $1500 beats their $3500 fee though.

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