Contractor Financial Health Check
Score your position across tax set-aside, GST owing, super gap, buffer months and insurance in one contractor financial profile.
Many contractors save this as a percentage of each invoice paid — consider a separate savings account, since self-employed income has no automatic PAYE withholding.
The five numbers every contractor should track
Without an employer withholding tax, paying compulsory super, or providing paid leave, a contractor's financial position depends on habits that don't happen automatically — setting aside enough for tax and GST as income arrives, keeping an emergency buffer for gaps between contracts, self-funding super, and carrying adequate insurance.
This calculator scores your position across those areas so you can see at a glance where you're solid and where there's a genuine gap to close.
What's included in this score
- Tax and GST set-aside adequacy against your ABN income
- Super contributions relative to what an employee would have received automatically
- Emergency buffer, in months of expenses covered
- Insurance coverage gaps, given the lack of employer-provided cover
