
Does 50% or more of your total remuneration consist of commission earned?
Did you know that as an employee, you are entitled to claim business expenses against commission income recorded under code 3606, should it be more than 50% of the total remuneration on the IRP5?
Not sure what business expenses to claim?
In many ways, the deductions for business expenses available to these commission earners are similar to those available to individuals who are sole proprietors or independent contractors.
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Gary Garbutt,
Head of Operations
Biz Facility Pty Ltd
(Registration number: 2011/105349/07)
Mission Statement:
To provide value added skills and tools through superior training and engagement that enables our clients to become more financially skilled.
Our Vision:
To provide practical skills and tools to small and medium business owners and individuals, in order to effectively utilize accounting data to manage their business or area of operation, and to effectively manage their tax obligations, both personally and professionally.
Biz Facility, founded in 2010, was founded to provide practical training interventions to small and medium sized businesses, as well as individuals, to equip clients in managing their business’s and tax affairs more effectively.Biz Facility provides both training and financial services to its clients: