Cost of a carpenter in Queensland

Hi folks
I'm just wondering 'cos I had a guy that said he is chaging $48 hr. Fair enough but there's more to that. He has his own company as it turned out he is a builder who employs people. He takes 12% profit for the labour and material plus gst.
He bought first lot of timber for $5400. This had 10% gst included already. Then he added his 12%, which made it $6100 roughly. Then on top of this he added another gst, which made total bill $6700. (I'm using round figures here)
I don't know what the heck but I must be in a wrong business perhaps. He said there will be 3 guys working on my reno framework. Each 48 bucks x 3 x 8 x at least 10 to 14 days plus gst. I just need some honest opinions.
On top of all this, he charges $55 for himself as administration, checking his boys if they are doing good job and that could be up to 4 hrs each day. I only got them to buy material so far but I'm hesitating getting them started.


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