Before tax annual income:
• For employees on a salary with no business ownership interest – it is your current total annual salary package
• For employees on a salary with a business ownership interest – it is your current annual salary plus or minus your share of the business’ latest financial year profit or loss (before tax and after expenses)
• For sole proprietors – it is the gross business income, minus the cost of goods sold and less any tax deductible business expenses
• For partners in a partnership – it is your drawings plus or minus your share of the partnership’s latest financial year profit/loss (before tax and after expenses)
