Note that this is not a prescribed or Total per hour $88.38 recommended rate. (up to 1,672 hours) Owner drivers are strongly recommended to consider their own circumstances and obtain advice. This model assumes that the owner driver will recover annual costs over 1,672 driving hours a year. Many owner drivers work longer than these hours, either extra days each week or longer hours each day. Total per hour for hours in excess of 7.6 hours per day / 1,672 hours a year – This table calculates an hourly rate for those extra hours, using variable and labour costs only, and using overtime rates of pay. Totals Totals per driving Typical Your figures Notes hour costs Variable Costs $18.48 Assuming 26.32 km travelled per hour. Labour $41.66 - This worked example is based on overtime $54.68 penalty labour rates of between 150% and (overtime rates) 200% See discussion on rates for labour in Part 3. Total per hour $60.14 - Note that this is not a prescribed or $73.16 recommended rate. (up to 1,672 hours) Owner drivers are strongly recommended to consider their own circumstances and obtain advice. In addition to the above, owner drivers should where relevant include any amount that they seek as a return on their capital investment. This issue is dealt with in section 11 of the Owner Drivers and Forestry Contractors Code of Practice, available from business.vic.gov.au/ownerdrivershirers Note that this is not a prescribed or recommended rate. It is strongly recommended that owner drivers obtain advice on their own individual circumstances and discuss all issues with their hirer or potential hirer to ensure that there is no misunderstanding concerning payment structures.
Total per hour (up to 1,672 hours) $88.38 Note that this is not a prescribed or recommended rate. Owner drivers are strongly recommended to consider their own circumstances and obtain advice. This model assumes that the owner driver will recover annual costs over 1,672 driving hours a year. Many owner drivers work longer than these hours, either extra days each week or longer hours each day. Total per hour – for hours in excess of 7.6 hours per day / 1,672 hours a year This table calculates an hourly rate for those extra hours, using variable and labour costs only, and using overtime rates of pay. Totals Totals per driving hour Typical costs Your figures Notes Variable Costs $18.48 Assuming 26.32 km travelled per hour. Labour (overtime rates) $41.66 - $54.68 This worked example is based on overtime penalty labour rates of between 150% and 200% See discussion on rates for labour in Part 3. Total per hour (up to 1,672 hours) $60.14 - $73.16 Note that this is not a prescribed or recommended rate. Owner drivers are strongly recommended to consider their own circumstances and obtain advice. In addition to the above, owner drivers should where relevant include any amount that they seek as a return on their capital investment. This issue is dealt with in section 11 of the Owner Drivers and Forestry Contractors Code of Practice, available from business.vic.gov.au/ownerdrivershirers Note that this is not a prescribed or recommended rate. It is strongly recommended that owner drivers obtain advice on their own individual circumstances and discuss all issues with their hirer or potential hirer to ensure that there is no misunderstanding concerning payment structures.
Tandem-Tip-Truck-GVM-22.5-Greater-Than-5-Years-Old-2018-2019.docx