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How does tax work for self employed person?

Posted 1 October 2015 under Tax Questions


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La says:
1 October 2015 at 16:46

I am self employed and wish to know what tax contributions I need to put aside of my salary every month and also when does a self employed person start paying tax? after what amount of earnings?

This entry was posted in Tax Questions and tagged , . Bookmark the permalink.

TaxTimTaxTim says:
1 October 2015 at 19:29

The tax threshhold is currently R73,650, so any earnings below this amount during the tax year would not attract tax.

If you are self-employed and earn above the tax threshhold you would need to register to pay provisional tax 2-3 times per year. Please check below link to see if you are a provisional taxpayer.
Am I a Provisional taxpayer?

Please also read our blog on Provisional Tax
What is Provisional Tax? How and when?

Please Register for TaxTim and let us assist you to complete your Provisional Tax Return and also complete and submit your Tax Returns to SARS.

Please also see our blog posting on how to calculate How much tax I owe?


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Hello.
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