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Previously known as psycik
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However it may be cutting off your nose to spite your face because you also minimise your profit.
rayonline: I thought that was disallowed from the last few years? LAQC right or am I mistaken. Didn't they disallowed deductions to be put to the person's day job income?
Yeah i was thinking about those 100% landlords without day jobs LOL. Or companies who rack up expenses just to make the place more pretty like expensive computers, furniture regularly, wine, perks, a flash car. Yeah .. landlords can rack up expenses to improve its value too huh .. but it does cost as only the tax part of it can be claimed. Designer bathrooms, convert to open home living .. at least for a small cost compared to a avg Joe and Jane. Then they still get access to the public services ...
rayonline: I thought that was disallowed from the last few years? LAQC right or am I mistaken. Didn't they disallowed deductions to be put to the person's day job income?
Yeah i was thinking about those 100% landlords without day jobs LOL. Or companies who rack up expenses just to make the place more pretty like expensive computers, furniture regularly, wine, perks, a flash car. Yeah .. landlords can rack up expenses to improve its value too huh .. but it does cost as only the tax part of it can be claimed. Designer bathrooms, convert to open home living .. at least for a small cost compared to a avg Joe and Jane. Then they still get access to the public services ...
rayonline: I thought that was disallowed from the last few years? LAQC right or am I mistaken. Didn't they disallowed deductions to be put to the person's day job income?
Yeah i was thinking about those 100% landlords without day jobs LOL. Or companies who rack up expenses just to make the place more pretty like expensive computers, furniture regularly, wine, perks, a flash car. Yeah .. landlords can rack up expenses to improve its value too huh .. but it does cost as only the tax part of it can be claimed. Designer bathrooms, convert to open home living .. at least for a small cost compared to a avg Joe and Jane. Then they still get access to the public services ...
Time to find a new industry!
Geektastic:
Provisional tax is even worse - they expect you to pay them in advance for next year based on last year plus a percentage. So you need to pay them with money you have yet to earn...! Entirely unjust in my view.
No, that's not right. Provisional tax is tax paid during the year on income earned during that year (but estimated, as you say, based on last year plus a percentage, rather than actuals). Otherwise you pay it in February the following year - 10 to 22 months after you earned the income.
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