Our specialist tax consultant and Registered Tax Practitioner shares some useful insights every month to help you stay on top of and efficiently manage your tax affairs.
An important thing to keep in mind when doing your annual tax returns is whether any depreciation can be claimed against your earnings. This may seem like a strange thing for a salaried individual to think of, but if you have had to buy a laptop or a piece of equipment for work, it applies to you.
Over the last few weeks we’ve noticed a trend among the tax queries we are receiving. Rather a lot of the questions we’ve received have been around the tax treatment of income generated from trading and investment activities, over and above salaries earned. We’ve received questions like; how do I report additional income on my taxes?, how do I claim stock losses on my taxes?, what is a tax directive? Therefore we thought it would be helpful if we shared some tax guidance for individuals with multiple income streams.