Independent contractor agreements are becoming increasingly common, especially in an economy as dynamic as Kamloops’s.
The independent contractor agreement has advantages for both employers and employees: employers can avoid all of the hassles associated with hiring and firing employees, and the independent contractor benefits from several income tax deductions, not available to employees. Despite these advantages, however, independent contractor relationships also carry substantial risks for both parties, including severe income tax consequences.
It is important to understand that many independent contractors are actually employees or what are known as “dependent contractors”, and they are afforded much greater protection in the workplace, including severance pay on termination. As every case is unique, our lawyers will evaluate your situation to determine whether you are an independent contractor or an employee.
Given the risks involved with independent contractor arrangements, it is critical that you get the right legal advice upfront, and go in “with both eyes open”. Our lawyers are here to help review, draft, or negotiate the terms of your agreement, thus ensuring that you are protected both during and at the conclusion of the relationship.