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Declaration of professional income and how does this relate to local assets and liabilities?

Posted 4 November 2014 under Tax Questions



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Income is earned from writing articles that are published in a magazine. No IRP5 is provided for this remuneration. Do I declare this income in the field "Income other than turnover" and give it a description of "professional income"? Then under the heading "Local assets and liabilities", do I only declare amounts relating to this professional income? For example fixed properties will be zero as the house that I own is not part of this professional income activity?

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TaxTimTaxTim says:
4 November 2014 at 16:05

The amounts under Assets and Liabilities are for your personal assets and should be recorded at cost.

You would indeed place your professional income under the "other income" section.


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