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Financial Literacy Series Posts in Tax Q&A

Financial Literacy Series: 10 most popular posts


Who is the CIPC?

  Written by Nicci  

The CIPC stands for the Companies and Intellectual Property Commission in South Africa.

It is a  government agency under the Department of Trade, Industry and Competition (DTIC), responsible for:

Company Registration:

Registering new companies (e.g. private, public, non-profit)

Maintenance of Company Records:

  • Annual returns
  • Director changes<...


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Provisional Tax and Rental Income

  Written by Nicci  

I have filed and completed the 2017 personal income tax for myself. I started receiving rental income from my property in March 2017. Where do I declare this income? Is it part of provisional tax and will I pay penalties for late submission?

Also,
1. The property is owned by myself and my wife. Will we both need to file tax returns for this Rental Income?
2. Does this mean a whole new tax return must be submitted, or is it only necessary to complete the IRP6?

Structuring tax for a side businesses

  Written by Nicci  

I need some advice regarding how to structure my taxes and what ways I will be able to reduce my tax exposure through deductions, registering as a private Pty vs Sole proprietorship etc... I have a salaried job and am starting up a side business working from home as a web developer. I am also considering to start renting out our flatlet via Airbnb. The total income I am looking at includes (per month): 1) Salary: R70000 2) Airbnb: R3000 (which is a bit hard to estimate right now till we have built a track record, but this is assuming an average occupancy of 13%) 3) Web development: R5000...



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Tax allocation

  Written by Nicci  

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