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As a consultant how can I deduct my work expenses?

Posted 15 March 2017 under Tax Q&A
Timto says:
15 March 2017 at 0:34

I am working as a consultant and recived a daily rate for the work I do and I want to know should I register as a sole proprietor so that I can have work related expense deductions such as fuel and equipment (eg. Vehicle) or must I register a cc ?

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TaxTim TaxTim says:
15 March 2017 at 7:48

It will depend on the total taxable income you have. Individuals are taxed on a sliding scale and the maximum tax rate is 37%. However cc's are taxed at 32%. You will need to determine which would give you the best tax advantage - but yes, register either as a "trading as" or a CC inorder to claim business related expenses.

Please also note VAT registration is required is you make more than N$500,000 per annum.


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