I have just been granted a Life Partnership Visa with Own Business Permit. This will allow me to contract myself out to employers. What tax form do I fill in? What information is needed? How do I pay tax if I invoice a company? And will I be taxed the same as if I was employed by the company?
If you invoice a company they will probably keep back about 25% before paying you the money. This they will hand over to SARS. At the end of the tax year you will complete and submit an ITR12Income Tax Return and show all your income. If you still have to pay tax on the difference because you are over the tax threshold then SARS will let you know.
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