My income after my UIF and tax is R7 950. And any over time I work is taxed per hour. Last month my nett was R11 200.
I also sell corals to pet shops that I grow out at home. Some months I make R0 and other R5000-R8000 after costs like electricity and material.
Now the pet shops have now asked if I can give them some type of paper work for them to keep records for tax ect.
What should I do to help with tax payment? Have a different account just for the side income? How much tax would I pay if I get paid in cash but still have to give the pet shop a paper work that could be traced back to me?
I just don't what any problem with SARS. Please help with any advise.
You will be taxed on the extra income you earn, but depending on how much you earn will determine how much tax you pay. You would need to declare this separately on your tax return and register as a provisional taxpayer - click here
You need to give the pet shops an invoice with all your details and the amount you are charging etc for their records.
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