Hope you're well and that you can assist me. I get taxed on my monthly salary of R31300, however, I'm also an online part time language consultant getting paid in USD from abroad into my paypal account. The employer from abroad currently taxes me 6% of my earnings as I make under 920USD. Paypal then charges me a further 3. 5% for the transfer. My account is linked with FNB, who take a further 1. 5% commission when converting to Rands and transferring the funds to my account. By the time the money is in my account I've lost 11. 5% of my earnings. How will SARS tax me further on these earnings, do I have to get taxed further? *sigh* Look forward to your response and many thanks. Regards
You will have to get taxed further, however you can use the tax paid to offset what you will have to pay SARS as well you will be able to reduce the income by the commission etc. However if you want to see how much total tax you will need to pay, please make use of our SARS income tax calculator and enter in the total income and see what the tax should be before any deductions or offsets.
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