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Consulting Rates (Hourly)


CONSULTING RATES (HOURLY)

The use of an hourly rate charge is fairly common and is designed to relate directly to a level of remuneration in line with similar areas of practise within the professions. The charge rate formula allows for cycles of activity, reasonable profits, technology updating, general office overheads, ongoing professional training and appropriate salaries for staff and principles.

Evidence suggests that practitioners are adopting one of two strategies in regard to disbursements paid on behalf of a client and not included in hourly rates.

Cost Plus the practitioner pays the fee and recovers from the client: it was found that when the methodology is used a service fee of 15% is applied to cover costs of carrying out the disbursement.

Direct Payment An increasing number of practitioners are offering their clients the option of direct payment of third party fees particularly statutory fees, this may well have a GST saving for clients.

Research findings indicate that clarity of communication between Clients and Practitioners is the key to a successfully professional relationship.



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