Additional income, and when do I register for Provisional tax?
By Alicia Human · Updated
If I do freelance work and get paid via Paypal what are the tax implications of withdrawing the funds into an FNB account, this would be a second source of income
If your total earnings are above the tax threshold of R75,000, then you should register for Provisional Tax
Your freelance income would be added to your other income and the total would be taxed per the tax tables.
You need to declare it in your Tax Return within the section "Local Business, Trade and Professional Income". You can deduct any business related expenses to reduce your taxable income and therefore your tax liability on this additional income.
Your freelance income would be added to your other income and the total would be taxed per the tax tables.
You need to declare it in your Tax Return within the section "Local Business, Trade and Professional Income". You can deduct any business related expenses to reduce your taxable income and therefore your tax liability on this additional income.