FAQ Blog Calculators Students Logbook Contact
Do your Tax with TaxTim and WIN R10,000  More info   T&C's apply


Can you offset initial expenses against future income all from the same tax year?

Posted 16 January 2014

If you have just started a business and have not earned income yet, would you be able to deduct the initial expenses from future months when you do earn income? Please note that the income and expenses fall within the same tax year.

TaxTim TaxTim says:
16 January 2014 at 19:59

Yes, you incomes and expenses are over a full trading period so you would add them all up over the period and work out whether you have a loss or profit for the year.

This entry was posted in Tax Q&A and tagged . Bookmark the permalink.




Do your Tax Return in 20 minutes or less!

TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund
Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Get SARS Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.