|
Andre says: 6 October 2015 at 9:43 I am a bit undecided if I want to register a new Pty Ltd due to all the tax requirements. For the moment there will be no employees as it will be a part time business for myself in which I will provide financial services and consulting. Please assist in advising me if I will need to register for PAYE and also income tax, even though the business will be very small and start off with less than R50 000 income per annum? |
|
TaxTim says: 6 October 2015 at 14:51 All private companies need to register as tax payers with SARS. The company is deemed to be an "employer" and all payments/drawings made to directors are deemed to be "salaries" and therefore the company must be registered for PAYE and deduct tax accordingly. It is certainly less of an administrative burden to operate as a sole proprietor. |
Do Your Tax Return Easily