Baqir Hussain

That's one of the big misconceptions that, oh, I'll get taxed on the whole income at 30 or 33 percent.

And that's not the case.

I got him backdated around 15,000.

That's huge.

He had three kids and had never came for it.

He had no idea.

suddenly quarter of a million of debt to the IRD that needs to be paid.

But the fact is, it's not sudden.

They've been trying to reach him for two years.

yes when it comes to families a big one is working for families because unless you're registered with the ird for the working for families account you can not get that there was a someone in the community that had

come to me a couple of years ago i got him back dated around 15 000 worth of um working for families and uh there wasn't a good night nice bonus for him because he had three kids and had never came for it he had no idea what this was and how it works because most people are just too scared of the ird and and tax that's a big win so when it comes to individuals

Donations is a big one.

And I think that comes down to awareness.

And when it comes to businesses, it's all about knowing what expenses or reductions you can claim.

And so we've had cases where people have increased their income

uh and and showed an additional say 10 000 20 000 just to say oh this looks right where i don't want i'm so scared of the iid that i'm happy to declare additional income and then pay tax on it uh selling no that's not the right way you claim what is actual and it's all about knowing what expenses you can claim because some people may claim everything under the sun or or try to

But some people will say, no, we don't want to claim anything.

And both of them are wrong in a way that you want to get the right balance and follow what the rules are.

Yes, and credit where it's due.

The IRD is pretty good at doing that as long as you're able to prove that you're eligible for it and you register for it.