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I am currently not a registered tax payer nor am I employed, I am however getting into smart phone programming and wanted to know my tax obligation when it comes to individuals who do this kind of thing in their spare time and not as a business operation.
Also - Google Admob (for smart phone app monetization) is in the U.S.A and payments are paid out when a limit of $100 have been reached. (This into bank accounts and not PayPal). At what time should I register as a tax payer and what forms are to be filled out for this kind of income?
You only need to pay tax if you are earning more than R67 111 per year, are you?
Georgesays: 18 August 2013 at 8:04
No, not yet as I just started.
I just was not sure if National Treasury or SARS had exchange controls or tax obligations in place regarding foreign income such as Admob revenue.
TaxTimsays: 19 August 2013 at 22:50
Not specifically for Admob, but as a tax resident and physical resident of SA then you would need to comply with exchange control regulations which state all foreign revenue earned must be converted to Rands and brought into SA within 30 days, unless you make application to the Reserve Bank or open up a foreign denominated account with one of the local banks and receive income that way. I know Google sends a physical cheque so this can be deposited in your local Rand account, though of course an EFT charge applies.
Regarding tax, if they send a Rand amount then you would use that amount, alternatively if a Dollar amount is sent then you would need to use the SARS Exchange Rates tables to convert to Rand income and pay tax once you cross the above threshold.
Georgesays: 25 August 2013 at 8:52
Thank you for the reply thus far. Just one more question.
If I was to now reach the R67 111 limit, what forms do I need to fill out in registering as a tax payer and what additional documentation does SARS need from me when it comes to receiving an income from something like Admob.
TaxTimsays: 27 August 2013 at 0:33
You would have to show invoices or receipts of income from Admob if asked for proof.