Should a freelance scriptwriter working from home pay tax as an individual or as a sole proprietor?

Posted 12 November 2015

Should a freelance scriptwriter working from home pay tax as an individual or as a sole proprietor?

Is a sole proprietor a business?

Posted 11 November 2015

If I earn income as a sole proprietor for doing admin and accounting work am I considered to be running a business?

What is the tax definition of carrying on a business.

Posted 10 November 2015

I have been unemployed for the 2014 / 2015 tax year. For income, I have been getting casual work here and there. By casual I mean I worked on some events, did some technical drawings for a company and then helped with a school magazine. I was paid for all these jobs, for which I had to invoice and naturally I incurred expenses to do these jobs. Two events were overseas. There were a few months when I had no work at all. (My taxable income is less that the R70700 threshold. ) My question is, does...

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How would I summit a tax return as a sole proprietor with no payslips?

Posted 5 November 2015

I am a sole proprietor. I need to do a tax return for this year. I have no payslips, but I do have an income and expense sheet done by me. How do I go about doing a tax return for SARS?

Do fully vested trusts have to submit provisional tax returns?

Posted 5 November 2015

A trust is registered as a provisional taxpayer. All the income in the trust vests fully in the beneficiaries meaning that no income is retained in the trust. Will the trust still have to submit provisional tax returns even though it will always be nil?

Would I have to register as a provisional tax payer?

Posted 3 November 2015

I was a permanent employee at a company for the first 6 months of the tax year. I have gone freelance for the remainder of the tax year and the foreseeable future. I am receiving a salary in effect as the companies I freelance for deduct 25% tax on my earnings and pay me a monthly lump sum (salary) and they provide IRP5s. Does this mean I won't have to register as a provisional tax payer and also at 25% tax could I apply for a tax directive?

How much do I pay tax if my business has made less than R10000 profit

Posted 3 November 2015

I have cash loan business,and I only made R2000 of profit due to bad payers. So how much should I pay to SARS?

Havent submitted tax returns

Posted 3 November 2015

I havent submitted a tax return for last 3 years. I have my IRP5's. Help what must I do and are there penalties. I also have just opened a sole prop and need to apply for a tax clearance.

Time limit for submission of returns?

Posted 27 October 2015

When must 2014 to 2015 IRP5/IT3(a) tax returns be in by?

Small Business - Administrative service

Posted 26 October 2015

I started a small business where I provide administrative services to one company at a cost of R10 000 per month. What will the tax implications be? Will I be able to register for turnover tax or what would be the best option?

Can I claim depreciation for my car as a sole proprietor if I have a log book by using the tax table

Posted 23 October 2015

I am operating as a sole proprietor. I keep a log book for my car which I also use for business. Can I claim for depreciation and use the tax tables for that?

By when must all returns be submitted

Posted 23 October 2015

By when must all tax returns be submitted

Can PAYE, UIF and Provisional Tax be claimed on Income Tax Return (ITR14)?

Posted 22 October 2015

Hi TaxTim

I would like to now, can a Company claim PAYE, UIF and Provisional Tax on a Income Tax Return (ITR14)?

Thanks in advance.

Additional income capture for private work I was not taxed on

Posted 21 October 2015

I did some private work during 2014 for which I was remunerated, but not taxed. Please advise how to add this to my tax return and how to claim for the expenses incurred in this period as well.

How to catch up on outstanding returns when I have no income and expenditure records

Posted 20 October 2015

I resigned from my job in 2010 and took my pension to buy a small business, which I ran as a sole proprietor for 2. 5 years. During this time, I did not submit a tax return, as I wasn't sure how to do it. Also, I was not making much profit and more or less came out even at the end of every month. I then passed the business on to my son-in-law and started working again in 2013. All the income and expenditure info relating to the business was contained on a laptop, which subsequently crashed, so I...

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Registering as a freelance tax payer

Posted 20 October 2015

Hi there, I have been working from home for a couple of months now for a company I used to work in-house full time for. Better explained - I now work on a freelance basis for the same company but I get a weekly salary, the same each week and its on-going. I had the understanding that my tax was being deducted off my salary, that the company was taking care of this. I recently realised that this is not the case and I should have registered as a freelance practitioner and taken care of my own tax....

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ITR12 For January as Provisional Tax Payer

Posted 19 October 2015

I am currently running a business as a sole proprietor and have registered for provisional tax. I have already submitted 2 provisional tax returns for the 2015 tax year (IRP6). Now do I also need to submit a ITR12 for January?
Does TaxTim also help with this type of ITR12, and if so, is it any different from your standard ITR12?
How should I answer the initial TaxTim questions differently?

Vehicle Purchased For Business and Personal

Posted 16 October 2015

I recently purchased a car cash for business and personal use. The amount paid was R103,000. How can I go about claiming a portion thereof as a tax deductible expense if I also use it for my business?

Tax implication working as a consultant

Posted 16 October 2015

If I earn a salary that's taxable plus an amount working as a consultant for a different company what is that tax implication on the extra amount earned as a consultant?

After registering a company, when does the owner become in liable for provisional tax?

Posted 15 October 2015

If an individual registered a small company with the CIPC at the end of May 2015 (for example) when does the individual become liable for provisional tax? The company is the only source of income for the individual.

Office costs as free-lance journalist working from home

Posted 14 October 2015

If I am working from home as a free-lance journalist, can I claim office expenses like paper, ink, internet and cell phone costs and if so, where do I claim these under?

Earn commission apart from full time job, what are the tax implications?

Posted 12 October 2015

I am earning commission on sales from selling an appliance. This income I earn on a part time basis apart from my full time job. What will the tax implications be on such an income, the commission varies from month to month? How do I go about paying this?

How do I undo selecting the wrong time period for a provisional tax return?

Posted 7 October 2015

Hey there TaxTim!

I'm doing my provisional tax return, and accidentally selected the wrong time period for it when requesting it. How do I undo this?

When does one register for provisional tax, before you earn or after you earn money

Posted 6 October 2015

Provisional Tax
Do I earn say R8000 for the first 6 months first
Then register to pay provisional tax
Forex Trader Starting soon

Register Yes or No for a company?

Posted 6 October 2015

I am a bit undecided if I want to register a new Pty Ltd due to all the tax requirements. For the moment there will be no employees as it will be a part time business for myself in which I will provide financial services and consulting. Please assist in advising me if I will need to register for PAYE and also income tax, even though the business will be very small and start off with less than R50 000 income per annum?
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