Recent content by howDoesTheMoniesWork

  1. H

    Contractor/Self employed tax write-offs

    Yes 100% dedicated space in my flat.
  2. H

    Contractor/Self employed tax write-offs

    Bonus question... what about a vehicle/transport? Can that be written off? Or is stuff like Ubering and writing off the uber cost better?
  3. H

    Contractor/Self employed tax write-offs

    Thank you @Snyper564 @RedViking and @bromster for all the input so far
  4. H

    Contractor/Self employed tax write-offs

    Out of interest are you using a specific software? Evernote?
  5. H

    Contractor/Self employed tax write-offs

    Excellent idea. Thanks for the tips. My accountant has already asked for the stuff like you have mentioned. Luckily, I do have the majority of it organised and ready.
  6. H

    Contractor/Self employed tax write-offs

    What about if you're renting?
  7. H

    Contractor/Self employed tax write-offs

    I recently started a new job as a contractor (detailed in my other thread). I've been put in touch with a tax consultant who gave me a long list of questions about my expenses. I was shocked at the amount of stuff that you can write off as a business expense and bring down your tax liability...
  8. H

    Retirement fund - leave with Momentum or move to Discovery

    Thanks for all the advice. I will check what the charges are and pull the money out. Invest in VT or VTI.
  9. H

    Retirement fund - leave with Momentum or move to Discovery

    Very interesting. I didn't think about withdrawing the funds once I stopped contributing!
  10. H

    Retirement fund - leave with Momentum or move to Discovery

    Thanks for your advice (via pm as well) I wasn't really looking for a new broker... just trying to compare the difference between those two specific options.
  11. H

    Retirement fund - leave with Momentum or move to Discovery

    I have a retirement fund with my ex employer. It is sitting with Momentum and I am no longer contributing toward it. AFAIK, it costs 0.01% per month. To be honest, I never even realised it was taking a monthly fee. Makes me wonder now if I'm actually making anything out of this fund or is it...
  12. H

    Software Dev career advice: Salary vs Contracting

    That is what I'm trying to do. Also similar to what the CEO mentioned. They try to give their employees opportunities to reduce tax costs, grow their own companies, and invest in the right kinds of places.
  13. H

    Software Dev career advice: Salary vs Contracting

    No wife. No kids. No bond (renting by choice/for flexibility). Just looking at it surface level: R800k salary: PAYE = R216160 (at max, 39% tax bracket) R800k invoiced: small business tax = R128013 (28% of lump sum exceeding R550 000 + R58 013) So quite a big reduction on tax right there.
  14. H

    Software Dev career advice: Salary vs Contracting

    There are reasons behind the level of pay. Changed tech stack a year or two ago, and thus don't have the same amount of "consistent" experience in the current area. Also, tbh, the level of pay is not so far off from the norm. For example, the offer from Company A is R780k/annum... that looks...
  15. H

    Software Dev career advice: Salary vs Contracting

    Didn't even know this was a factor. So what does that mean? I will charge out VAT and then pay VAT to SARS? Net effect is zero? Or is the amount you charge and the amount you pay to SARS different?
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