I registered a company and It was registered for income tax. I am the sole Director and shareholder. When it makes money and I pay some of this to myself am I liable for provisional tax? I know there is a threshold but does that threshold amount include my Normal Salary that I get from my employer?
Thanks for getting back to me. I have a full time Job that Pays me well over the provisional tax threshold but has been my sole income. My new company has not started trading but when it does I intend for it to pay me monthly (maybe only in the future when it is profitable enough to do so, but just wanting to be informed when the time comes)
TaxTimsays: 12 August 2015 at 15:35
If you are earning a monthly salary or any salary whereby the company deducts tax monthly, even if the company is owned by you, then you do not need to submit a provisional tax return.
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