Hi. I have been submitting provisional tax returns (IRP6) for a few years but since December 2015 have entered full-time employment, and hence receive an IRP5. I still however earn some money doing approved work outside of my full time employment.
Do I declare only my extra earnings on my IRP6, and then the total earnings on my ITR12, or do I declare my total earnings, i.e. Salary plus extra earnings, on my IRP6?
How much extra do you receive each tax year as a profit?
TMsays: 14 September 2015 at 19:41
It's hard to predict but I will likely reach the 20k annual threshold.
TaxTimsays: 15 September 2015 at 7:33
The threshold is R30 000 from the 2015 tax year. On your IRP6 you would declare all your income, both the salary and the net profit from your other work. You would then show all the PAYE paid as well so you are not overpaying the provisional tax.
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