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Thread: TAX matter

  1. #1
    Join Date
    May 2004
    yunnan cres

    Default TAX matter

    it's that time of the year again, we're getting letters from iras...

    for those of u who have earned additional income from photography apart from your main job, do u declare it?

    and since this can be considered as a business that u ventured into, does it mean that the expenses on cameras and equipments purchases can also be considered as business costs, i.e. deductibles?
    RIP CP5700, Nokia E61i 2MP Camera, SB-900

  2. #2

    Default Re: TAX matter

    Did you register a company for your photography business? If Yes, those equipment purchases are considered as fixed assets expenditure and should be depreciated over its useful life which are deductible. If No, call the IRAS helpline

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