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Senti says: 27 January 2017 at 11:44 As a sole proprietor can I deduct 27. 5% retirement fund contributions from my total income before expenses? I render a professional service. |
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TaxTim says: 27 January 2017 at 11:57 If you are contributing 27.5% of your income towards a retirement fund then yes you are allowed to deduct this amount from your income. |
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Senti says: 27 January 2017 at 12:02 Just to clarify I am a sole proprietor rendering a professional service. May I then still deduct the full 27.5% retirement fund from my gross income? |
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TaxTim says: 27 January 2017 at 12:40 Yes even if you are a sole proprietor the above still applies to you. |
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