S1 EP 7 More Tax Deductions: Deed of Covenants Explained

07/18/21 • 11 min

You can claim deductions for any donations made to your church or charity during the tax year by utilising a Deed of Covenants. In this episode I discuss how you can register and claim these contributions as tax deductions each year and some key things to consider when deciding to register.

To download print or view a Sample Deed of Covenant Form:
https://www.ird.gov.tt/Media/Default/IRDForms/F-Deed_Of_Covenant--.pdf
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https://www.instagram.com/infinityaccounting_tt/
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Previous Episode

S1 EP 6: Self-Employed? Here's Everything You Need to Know About Taxes in T&T

Being a sole trader and a self-employed person can be quite tough especially having to navigate all the tax rules and regulations to remain in compliance with the law.
In today's episode I hope to break down and make clear some of the important taxes and some guidelines that you should follow as a self-employed individual or sole-trader. We'll chat about:

Income Taxes for Self-Employed
Business Levy
Statutory Deductions such as National Insurance /PAYE/Health Surcharge

To view NIS Contribution Rates:
https://www.nibtt.net/Contribution_Rates/cont_Sept05_2016.htm
For more tips, info and useful resources follow me on social media:
https://www.instagram.com/infinityaccounting_tt/
https://www.facebook.com/infinityservices.st

Next Episode

S1 EP 8: Your First Paycheck: Mandatory Deductions, Voluntary Deductions and More...

Receiving your paycheck at the end of the month is probably the most anticipated event for most! If you're getting your very first paycheck it's even more exciting! All paychecks come with deductions and It's important to understand and be informed of all these deductions and the benefits they come with. In Today's Episode we'll discuss: