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Should my IT77 Income Details section exclude business expenses as a I'm self employed?

Posted 5 October 2015 under Tax Q&A


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Ray says:
2 October 2015 at 18:43

I am only just registering for a tax number and completing the IT77, but under the section Income Details, it states to declare taxable income. I'm self employed, so I'll be making manual contributions, which to my knowledge is minus expenses. So, my question is, in this section of the form, should I declare my gross income, or only my income after business expenses?

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TaxTim TaxTim says:
5 October 2015 at 10:10

Taxable income is after business expenses so you would declare the net amount.


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