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Where can I get a list of the items that I'm allowed to claim for as a sole proprietor?

Posted 1 March 2013 under Tax Questions


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I know about things like rent, telephone, internet, stationery, etc., but what else?

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TaxTimTaxTim says:
1 March 2013 at 14:29

All expenses you incurred in producing the income earned as a sole prop. They have to be legitimate business expenses and you have to maintain records and proof.


CopyEd says:
1 March 2013 at 14:42

"Expenses incurred in producing the income earned as a sole prop" seems a bit open to interpretation, and I'm terrified of making a mistake! I'm a freelance editor/writer. I work from home mostly, but I'm often required to spend long periods of time (up to two months at a time) onsite at the client's offices.

Another income stream that I have is a sleep-training service for babies. This entails people coming to my home for consultations. I provide them with refreshments and ensure my home is maintained and clean as I also use it as a business premises.

Bearing this in mind, can I claim for the following expenses, and if so, in what ratio?:

Clothing
Fuel
Electricity
Cellphone expenses
Domestic worker
Gardener
Household maintenance services
Security services (armed response)
Insurance (motor & household)
Medical expenses (doctor's consultations and medication)
Cleaning products
Tea, coffee and other refreshments
Telephone bill including Internet service

...and if there are any other 'surprise' things I can claim for, I'd like to know.

Thanks so much :)


TaxTimTaxTim says:
4 March 2013 at 12:42

In a general sense you would be able to claim all the expenses/costs that you had relating to the income you earned. There must be a direct relation and it must have happened because you worked/produced/manufactured etc something or performed an activity which resulted in income.

Where you have expenses that are both personal and business you should, if possible split them up between personal and business, but if not then you need to find some way of allocating them. For travel costs, the best way would be to keep a log book and determining what was traveled for business as a percentage of over all travel and using the percentage to work out business travel expenses such as petrol, maintenance and

Medical expenses are claimed in your personal name and not as part of the business so this will be done with all your personal items.

The list above, anything business related can be claimed, anything other than medical expenses for personal use cannot be claimed.


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