View Single Post
  #5 (Link to this post)  
Old 07-07-09
Astrid's Avatar
Astrid Astrid is offline
Power Member
 
Join Date: Dec 2008
Location: Sydney
Posts: 434
Thanks: 0
Thanked 4 Times in 4 Posts
View Member's Facebook Profile View Member's Linkedin Profile View Member's Twitter Profile
Default Re: Discount program

Hi

Here is the advice I got:

Before you can claim the 15% as "promotional expenses you must declare your income on a “before discount” basis.
However, if you declare your income as “after discount” basis, you can’t claim the 15% as "promotional expenses.

The technically correct method is the first method, that is declare 100% of your incomes and then claim the 15% as "promotional expenses. Only problem is it can get messy if you don’t keep good records.
The easier way is to declare your income on a cash basis that is basically declaring 85% and forget about the 15%.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

I'm good at record keeping ;-)

Cheers
Astrid
Reply With Quote