This week, I have been asked to re-visit a tip that we have covered previously. We are often asked what the difference is between being employed as an employee and being engaged as a contractor. The first step is to determine the terms of your employment, as this is important for both superannuation and taxation purposes. The Australian Taxation Office offers a handy tool to help determine whether a worker is classed as an employee or a contractor. After answering a few questions about your employment, the tool (although aimed at employers) can help you determine the classification of your employment contract. For more information, or to check your employment status, just go to www.ato.gov.au/Calculators-and-tools/Employee-or-contractor.