Hi All
My original post was here,
www.mysmallbusiness.co.za/forum/tax/613-...ue-tax-penalties#642
I thought it would be best to start a new one though.
I need to register for tax, I have been working on a freelance basis and everything needs to be formalised, I need to register for tax and register a CC.
I have downloaded the IT77 document.
I don't really know what to fill in under the income details section. Salary, commision etc. I have been advised to calculate my taxable income.
I am looking at the last year's bank statements.
I have been working from home. What can I deduct when calculating my taxable income?
- Can I deduct a portion of my rent here?
- Can I deduct petrol? I mostly drive for business purposes.
- I use one room as an office. Can I make deductions for office equipment?
- What about deposit on the premises?
- Vehicle insurance?
- Bank Charges?
- Computers / Laptops
- Business Software
- Entertainment? I have often met with clients over lunch etc...