Books are not rebates, there are only a deductible expense. If you guys are still unsure, download your copy of TAXSAYA

taxsingam.blogspot.com

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Added on April 10, 2008, 9:26 amYou CANNOT claim the hire purchase against your tax if you are a salary earner. If you run a business then the capital portion (no interest) can be claimed as a capital allowance and the interest can be claimed as a business expense.

I suggest if you are a salary earner download your copy of TAXSAYA and see what can you claim.

taxsingam.blogspot.com

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Added on April 10, 2008, 9:29 am70K should be attracting a tax liability. I suggest you download your FREE copy of TAXSAYA to find out your actual tax liability.

This post has been edited by TaxSingam: Apr 10 2008, 09:29 AM

Being a contractor, does entitle you to claim yourself as a business income deriving individual. As a business, you are trying to claim certain expenses against your income in order to reduce it's taxable amount.

What can you legally claim? It's all in the picture you paint... I mean if you buy a house or a car , and both were used solely for business then the expense in maintaining it would be allowable. If only a percentage was for business, you got to justify this percentage too. Most of the time, people claim 1/3 or 2/3

As to the actual cost of purchase of the house, I don't see how you can claim this. (unless you live in a factory). The car however would be allowed for claim under a mechanism called Capital Allowance. Again provided its fully for business or you apply a percentage of own use normally 1/3 or 2/3 depending on the case.

Bottom line, write a story of your earnings and if your story makes sense most likely it can be claimed. Without knowing exact specific details its difficult to comment. Read up on sec 33(1) & 39 of the Income Tax if you can. That's pretty much the ultimate law governing business individuals.

I shall try to find the time to put a more detailed write up on this matter on my blog ( taxsingam.blogspot.com )

This post has been edited by TaxSingam: Apr 23 2008, 11:35 AM

1. For parents medical, even normal ailments are covered.
2. Full Medical Examination must also include a Physical Examination (read this )

Hi, alternatively you could just download taxsaya and see all the deduction that is applicable for you. The software would help you find out all the relief and claims that is applicable to you.