I earn a salary per month which I pay PAYE on. I then have a business on the side which generates about R 10k per month. Do I need to register for provisional tax and if so what do I declare on the IRP6 - only the income relating to the business on the side? What can I deduct as expenses ont he IRP5? Thanks
Yes you would need to register for provisional tax and when you complete the IRP6 you will need to include the employment income, but you would also include the PAYE paid, there is a space for that. You can deduct any expenses incurred purely for business purposes.
Get Tax Deadline Reminders, News and Tips
We'll tell you when you need to file, along with tax tips and updates.