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Expenses with no income

Posted 19 October 2015 under Tax Questions



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Helen says:
19 October 2015 at 8:26

I started working part time in Feb, but the company I do work for only pays me in March for Feb work... Do I state as such on my tax return, so my 2015 tax return will include expenses with no income?

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TaxTimTaxTim says:
19 October 2015 at 15:50

If the income is due to you in February, then it should be included in your Tax Return even if the cash has not yet been received. This is because the tax return reflects all income that is incurred during the tax year (1 March to end Feb).


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