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| Thread ID: 70064 | 2006-06-21 00:05:00 | A question about tax | Greven (91) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 464882 | 2006-06-21 00:05:00 | After procrastinating for ages, I'm finaly geting round to filling in my IR3. I did a contract for Manpower Professional (an IT recruitment company) in the last tax year that I was paid the full amount for (no tax deducted). It isn't in my summary of earnings, so should I declare it as income from self employment? |
Greven (91) | ||
| 464883 | 2006-06-21 00:20:00 | Yes. You'll be taxed on it but you can make deductions for reasonable expenses related to the work. | Winston001 (3612) | ||
| 464884 | 2006-06-21 01:10:00 | You would be very wise to as there will be records of your employment and how much you were paid by whomever employed you. Should the IRD get hold of them and decide to look you up in their files and discover you didn't file a return then they will soon be after you. ;) It ain't fun but it's best to front up with these things. |
FoxyMX (5) | ||
| 464885 | 2006-06-21 01:20:00 | I agree with Winston and FoxyMX. If you want to claim expenses, then go to the IRD website, download the IR3B form and submit that with your IR3. On that form is where you declare your 'self employment' income and claim any expenses. A |
andrew93 (249) | ||
| 464886 | 2006-06-21 01:24:00 | I owe the IRD $400 :( Now I've got to figure out what business description best fits ghosting computers & lugging them out to where they will live for the next 3 years. | Greven (91) | ||
| 464887 | 2006-06-21 01:35:00 | You can whack that down a bit with your expenses claim. There are quite a few things you can claim but it's tricky and you need to have the receipts/invoices. Since we don't know exactly how you earned your wage the only advice we can offer is to either get professional advice from an accountant or tax return specialist or do plenty of research. |
FoxyMX (5) | ||
| 464888 | 2006-06-21 01:58:00 | As a general guide: Home based businesses - this if you take calls at home and then go out as well, claim a %. Add up the total sqm, then the sqm of the areas used in the business, PC room, phone room etc, thats how you get the % you can claim of household costs such as power, rates etc. Vehicle - 100% use in business or signwritten vehicle = 100% claimable. Part use of vehicle - keep a log book for 5 months, then work out the miles used for work, and on IRDs website is the c per mile you can claim. Plus you claim a % of WOF, reg etc. Likewise phone use too. |
pctek (84) | ||
| 464889 | 2006-06-21 02:45:00 | IR13: How much did you earn? How much have you got left? Give it to us. |
Graham L (2) | ||
| 464890 | 2006-06-21 02:50:00 | Totally support Foxy* in that it pays to be up front. I ran a small rural cabinet-making part-time business from home after official retirement. In response to my query phone call, the IRD's local "small business manager" called and had a cup of tea with me in the workshop. He was great and showed me the type of detailed records he wanted me to keep for three months. Left me his card and told me that if anyone else from IRD queried me, I was to refer them to him. He then called again "in passing" and we did the same again. All sorted. Great. | Scouse (83) | ||
| 464891 | 2006-06-21 06:17:00 | I had a similar experience with the IRD a few years ago as Scouse, except that I went to their offices . The IRD agent was extremely helpful to me with a small business that I was running at that time . She told me all kinds of things that I could claim for that I hadn't even thought of and actually did a lot of the calculations for me whilst showing me how it was done . I never expected them to help me reduce my tax like that but she was brilliant . |
FoxyMX (5) | ||
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