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[sharechat] Tax

From:	Phaedrus <Phaedrus@techemail.com>
Date:	Mon, 19 Nov 2001 16:40:14 -0800 (PST)

Second asked "What can you claim as an expense to offset your taxable income?"
 Any expense incurred in earning the income is deductable. Data, books, 
seminars, newsletters, ISP charges, journal subscriptions, losing trades, line 
charges, newspapers etc. Say your office is X% of the floor area of your home. 
You can claim X% of rates, power, insurance, maintenance, cleaning lady, etc. 
You can claim depreciation on computer hardware and software etc.
 I am paying tax as an individual. I am vaguely aware that there may be 
advantages in setting up as a company or a sole trader. I have never got around 
to investigating these options. Fact is, tax bores me to the extent that I 
can't be bothered avoiding it. I haven't even got a family trust. How slack is 
that? Ask someone competent!
          Phaedrus.


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