I am currently employed and my employer pays PAYE. Recently I undertook small part time jobs probably totaling around R40 000 income for the financial year. Do I need to register as a provisional tax payer, or can I declare this additional income under the local business section of my SARS tax return?
If you declare the additional income in your tax return without paying provisional tax during the year, you may be liable for under-estimation penalties from SARS. Read our blog on Provisional Tax Penalties
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