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Sully says: 18 November 2015 at 21:56 I resigned my job to study. I have an income on an investment of - R7000 pa and I did some adhoc consulting for a company for which I earned R30000. My wife's tax adviser told me that I still need to submit a tax return as I have income from two different sources. He also said that I don't need to register as a provisional tax payer as I am not actively generating an income that will exceed the tax threshold. (I understand that should I consistently do more freelance work and if my income increases that in future I may have to register as a provisional tax payer. ) The problem I am encountering I how to declare this income (the R30000) on the ITR12. Do I declare it as 'local business trade and professional income' or as 'other taxable receipts and accruals'. If it is the latter do I use the source code 4214 'other' and what description should I put in the field? |
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TaxTim says: 19 November 2015 at 0:06 You can use the other field and just put the two descriptions and that will be fine. |
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