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Company or Individual tax if IRP5 is from my company

Posted 16 July 2015 under Tax Q&A


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Koos says:
16 July 2015 at 7:39

What if my tax return (IRP5) show my name on it as a business for example "Koos Consulting Services". But during the tax year I worked at this company on contract. Every month they subtracted individual tax from my payslip (which was right). My question now is, when I do the tax return at SARS won't they now want me to pay company tax, and not individual tax?

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TaxTim TaxTim says:
16 July 2015 at 19:48

The company will pay tax separately to you, this tax return is purely for you. The company needs to pay tax on it's profit if it is a registered entity with CIPC.


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Blog Categories


Small
Business
Tax Returns
Made Easy


TaxTim will help you:

 Do Your ITR14 Tax Return without a Tax Expert
 Claim for all the Deductions your Business Qualifies for
 Turn your Accounting Records into a Tax Return

TaxTim asks you simple questions about your business, then processes your answers and completes your ITR14 business tax return instantly.

Get started