At the moment I effectively work for myself, contracting full-time to a single company. I invoice this company
$x every month.
In the near future, I would like to either hire or sub-contract other people, probably South Africans living in South Africa. Ideally I would then want to invoice the company a value of
$y. It is likely that
$x will increase somewhat, so that will come with additional tax obviously. The entire value of
$y will be paid to subcontractors/employees.
Is the entire amount of
$y tax deductible? I would like to avoid finding myself in the position of paying increased taxes on money that "passes through me" so to speak.