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When do I need to start paying taxes?

Posted 11 April 2016 under Tax Q&A


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Arnold says:
9 April 2016 at 22:54

I am 17 years old. I do binary trading online and also some part time programming on my own. These hobbies have not earned me a lot of money but the amount is increasing gradually. Last month I earned approximately R7,000 by doing this. I am also still in school and I'm finishing end of this year. My question is: when do I need to start paying taxes? I am not formally employed at all but I think my earnings will be more than R80,000 by the end of this year.

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TaxTim TaxTim says:
11 April 2016 at 7:11

If you breach the amount of R75 000 for the period 1 March 2016 - 28 Feb 2017 then you will need to pay taxes.


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