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WHAT ARE DEDUCTIBLE EXPENSES FOR SELF-EMPLOYED SURGEONS

Posted 15 November 2014 under Tax Questions


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I am a self-employed surgeon in the private sector. My business is my primary source
of income with most expenses [ including the astronomical amount for my insurance!] being
covered by it.

How do I fill in my tax return? What can my deductible expenses be? I travel to congresses
regularly and cover most of those expenses on my own.

When I was employed in the state sector it was much easier with my IRP5 Form.

This entry was posted in Tax Questions and tagged , , , , , , , . Bookmark the permalink.

TaxTimTaxTim says:
17 November 2014 at 17:25

You need to keep proper records of all incomes and expenses and you are able to deduct all your work related expenses. You will need to file 3 returns a year being two provisional returns and one final return. Please read our article on What is Provisional Tax? How and when?

You would then complete your final return using the "local business income" section and include all incomes and expenses there. Remember that all expenses relating to business are deductible.

You also need to get a a SARS income tax number, which we can supply the forms if you have not already.



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