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Thread: Other Deductions or Expenditure

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    Other Deductions or Expenditure

    Hi earn a small salary but I also have trade income and earn royalties. I have a home office that comply to all the requirements set by SARS. Should I deduct my expenses (ie water and electricity and interest on home loan) as expenditure to determine trade income/loss; or should I deduct it under "Other Deductions - Home Office Expenses 4028" ? I have the same problem with regards to depreciation other expenses.
    Please help.

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    Site Caretaker Dave A's Avatar
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    Morticia made quite a comprehensive reply on allowable home expense deductions here.

    Hopefully that will help some.
    The trouble with opportunity is it normally comes dressed up as work.

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    Suggest you draw up a separate income and expenses statement of your royalty & trade income. It also makes it easier for SARS to decide whether to allow your expenses as bona fide trading vs. trying to fund your hobby via the taxman.

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    Not so easy, I use the home office to write (earning roylaties and salary) but also to book performances (profesional income = trade) so everything is muddled and linked.

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