A bad off-season for ex-Roosters - Fergo arrested

[Thirteen]

They'd have their super (Fergo would have at least $1m from compulsory contributions IMO) and he would probably also own at least one property outright.

IMO losing it all is a comparative thing. Doubt he's going on the dole any time soon.

Andrew Walker's probably a fair comparison though. Last I heard he was mowing laws and stuff (presumably to keep some sorta cashflow going). He'd own his house, have decent super...etc. However, he coulda been sitting on effing millions if he'd made one or two better decisions.

$1m from super? A winger earning around $350k a year for most of his career and then around $500k a year from those idiots at Parra?

Stick to law ISM.

[NorfolkStreetKid]

They'd have their super (Fergo would have at least $1m from compulsory contributions IMO) and he would probably also own at least one property outright.

IMO losing it all is a comparative thing. Doubt he's going on the dole any time soon.

Andrew Walker's probably a fair comparison though. Last I heard he was mowing laws and stuff (presumably to keep some sorta cashflow going). He'd own his house, have decent super...etc. However, he coulda been sitting on effing millions if he'd made one or two better decisions.

You think clubs pay SUPER on top of NRL contracts... I doubt it.

[SupermanSupportsEasts4Eva]

You think clubs pay SUPER on top of NRL contracts... I doubt it.

The clubs do pay super. Before moving into tech I worked for a major superfund that managed a couple of the NRL clubs group super funds.

[NorfolkStreetKid]

The clubs do pay super. Before moving into tech I worked for a major superfund that managed a couple of the NRL clubs group super funds.

I worked as a contractor, and i was never paid super.... i think you are wrong. The players are not employees.

[Bondicigar]

I worked as a contractor, and i was never paid super.... i think you are wrong. The players are not employees.

Would players have a ABN and pay there own tax plus GST I wonder?

[OMR]

The clubs do pay super. Before moving into tech I worked for a major superfund that managed a couple of the NRL clubs group super funds.

Maybe for their employees, however I do think players are considered as sub contractors.

[Thirteen]

Of course players are employees. No way are they contractors. And just like all employees, they get paid 9% super.

[SupermanSupportsEasts4Eva]

I worked as a contractor, and i was never paid super.... i think you are wrong. The players are not employees.

I worked for this company from 2007 untill 2011.... maybe things have changed now regarding contracts.
But at the time, the players and coaching staff back then definitely received monthly super contributions into their individual superfunds from their clubs. Each payment was classified as a employer contribution. Working in sales (as an acount managerr) at the time I negotiated deals between several NRLclubs finance officials and the superfund. On numerous occasions I saw the remittance forms which detailed the payments.
I cant be 100% certain that things are still the same, however I don't think that they would've changed regarding super, as the players and coaches are considered full-time employees for the duration of their contract.

[NorfolkStreetKid]

I worked for this company from 2007 untill 2011.... maybe things have changed now regarding contracts.
But at the time, the players and coaching staff back then definitely received monthly super contributions into their individual superfunds from their clubs. Each payment was classified as a employer contribution. Working in sales (as an acount managerr) at the time I negotiated deals between several NRLclubs finance officials and the superfund. On numerous occasions I saw the remittance forms which detailed the payments.
I cant be 100% certain that things are still the same, however I don't think that they would've changed regarding super, as the players and coaches are considered full-time employees for the duration of their contract.

Ok, you may well be right, But it would be stupid if players didn't have their own abn's because they would be paying much less tax as companies, and this is what I assumed they would all do.

[NorfolkStreetKid]

Of course players are employees. No way are they contractors. And just like all employees, they get paid 9% super.

If they are then they are paying 50%more tax than they should be.

[Thirteen]

Ok, you may well be right, But it would be stupid if players didn't have their own abn's because they would be paying much less tax as companies, and this is what I assumed they would all do.

They don’t have this option. It’s not as if all employees/contractors get to choose.

[NorfolkStreetKid]

They don’t have this option. It’s not as if all employees/contractors get to choose.

Anyone can set up their own company and choose to be paid as a subcontractor. i would be amazed if they didn't.

[Thirteen]

Anyone can set up their own company and choose to be paid as a subcontractor. i would be amazed if they didn't.

Yes they can but they may limit their employment opportunities. I employ people in my company and if they wanted to be paid as a subcontractor I wouldn’t allow it.

[NorfolkStreetKid]

Yes they can but they may limit their employment opportunities. I employ people in my company and if they wanted to be paid as a subcontractor I wouldn’t allow it.

I am quite sure Uncle Nick would be advising our players on over $200K to be setting up companies, absolute madness if they didn't.

[King Salvo]

The Players and the Coaching and support staff are employees and thus are eligible for superannuation payments from the employer ( i.e their clubs) - I think some might be confused that they sign contracts and maybe deemed contractors and or self employed - not the case