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Tax free savings for the unemployed

Posted 9 February 2016 under Tax Q&A


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Flufsie says:
9 February 2016 at 13:54

Wife has a hobby she runs from home for an income, not registered with SARS! Is she allowed to open a Tax-free savings account in parallel with me who is registered with SARS and also want to open this account. Thus can we together contribute R60K / year?

This entry was posted in Tax Q&A and tagged , . Bookmark the permalink.

TaxTim TaxTim says:
9 February 2016 at 20:49

Yes, there is a limit of R30,000 per person per year so she can contribute too.
However, please note if she is earning more than R73,650 per year (income less expenses) she should be registered as a provisional taxpayer with SARS and paying tax on her income.
What is Provisional Tax? How and when?
Am I a Provisional taxpayer?


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