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Do foreign nationals working fulltime with part-time work declare tax for monies paid?

Posted 27 February 2015 under Tax Questions



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I am a foreign national on a work permit currently permanently employed and also want to start free-lancing/consultation work. I have had calls from companies/businesses needing my skills and I decided to register a company in my name at CIPRO. The issues are I need a business permit to open a bank account and then register at SARS but this is a huge mountain to climb due to the "unfavorable" requirements required by Home Affairs. If I go ahead with this work whilst I work on my business permit, how this will affect me? Do I declare the monies I get from my clients to SARS? Having had a couple of issues in the past with SARS over my tax returns, I want to make sure I am doing something legal.

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TaxTimTaxTim says:
2 March 2015 at 7:34

What does your current work permit say, does it only allow you to work at your current company?


Sirius says:
4 March 2015 at 14:25

It just says work permit and no company details/name on it. I can change jobs without going through HA. I am not tied down to any organisation/company.


TaxTimTaxTim says:
4 March 2015 at 18:58

Does it say anywhere about owning a business, otherwise you may just need to work in your own name such as a sole proprietor.


Sirius says:
6 March 2015 at 8:03

Thank you Tim. Being a SP does look better and less complicated. And I can get paid directly into my personal account for goods and services rendered.

One issue I came across was an declaration of other income. Is this the "income" I must declare to SARS?


TaxTimTaxTim says:
6 March 2015 at 8:35

You would actually use the local business income section of the ITR12 tax return where you can record all your incomes and expenses. You can Register for TaxTim and make use of our services to help you complete and file your retun.


Sirius says:
10 March 2015 at 21:43

Thank you Tim. Will look into your services.

Regards


TaxTimTaxTim says:
10 March 2015 at 23:18

Only a pleasure!


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