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Private_practice says: 20 February 2016 at 21:36 Hi there, I'm starting a psychology private practice to build experience. I am already employed as a psychologist by a company but I want to add to my experience. Would I need to register for additional tax if I only plan to a couple of patients? |
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TaxTim says: 22 February 2016 at 10:46 Yes, you would need to register as a provisional taxpayer. Your extra income would be added to your normal salary and then the total would be taxed per the SARS tax tables. You would declare it in your tax return within the section called "Local business, trade and professional income" and remember you can deduct any business related expenses incurred in generating the additional income. Am I a Provisional taxpayer? Please read our blog on What is Provisional Tax? How and when? Register for TaxTim and let us assist you with your provisional and tax return filings. |
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