Salary Structure

[Pho3nix]

Posted this in the Business forum but wanted to put it here aswell as this section gets more traffic.
As I'm becoming a contractor I've been told that structuring my salary a certain way will help in making sure the tax man gets a smaller piece of the pie and that things like my laptop and car etc. will need to be mentioned on my salary slip.

I am in the process of getting a tax guy to assist but just wanted to get an idea of what to expect.

Also if anyone know's a tax magician in JHB please do PM me.

 

[zippy]

Posted this in the Business forum but wanted to put it here aswell as this section gets more traffic.
As I'm becoming a contractor I've been told that structuring my salary a certain way will help in making sure the tax man gets a smaller piece of the pie and that things like my laptop and car etc. will need to be mentioned on my salary slip.

I am in the process of getting a tax guy to assist but just wanted to get an idea of what to expect.

Also if anyone know's a tax magician in JHB please do PM me.

Careful of magicians. Your money tends to "magically" appear in their bank accounts.

 

[Celine]

if you're a contractor you can't "structure" your salary. you're a contractor and that's that you get income as per the company's rules. and yes you can claim specific expenditure against your income i.e. travel, cell phone expenses, depreciation on computer, tools that you may need in the production of your income. if you don't have an office at the place of work, then home office expenses. there's a whole lot of things one needs to look at.