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TaxTim says: 16 July 2014 at 18:51 If the company is a separate entity and paying you a salary or dividend then you do not qualify as a provisional taxpayer, but it is the company that has to pay provisional tax on it's income. |
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Jk777 says: 16 July 2014 at 19:12 Hi. Thank you for your reply. The business is not paying me a fixed salary, but I am drawing all available funds after expenses, so that business has a net profit of 0. |
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TaxTim says: 16 July 2014 at 19:57 Essentially this is a director's fee which will be taxable, you need to have the company register as an employee and pay over employees tax each month or show it is paying you. Otherwise you would declare this income under other income on your return and yes register as a provisional taxpayer. |
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