Do I need to register as a provisional taxpayer?
By Marc Sevitz · Updated
I am permanently employed but have recently started a different business on the side as a sole proprietor ( but the "Company" has its own bank account). Please advise whether I need to register as a provisional taxpayer for this business, and if so, do I need an accountant to do the process and claim back any deductions?
If you earn income from running your own business then yes, you should register for provisional tax and pay tax 2-3 times per year on your net income. You can register for provisional tax on SARS eFiling.
What is Provisional Tax? How and when?
Am I a Provisional taxpayer?
You can Register for TaxTim and let us assist you to complete your provisional tax returns in August and February.
You will still need to complete and submit a Tax Return (ITR12) on an annual basis as well and TaxTim can assist with this too.
What is Provisional Tax? How and when?
Am I a Provisional taxpayer?
You can Register for TaxTim and let us assist you to complete your provisional tax returns in August and February.
You will still need to complete and submit a Tax Return (ITR12) on an annual basis as well and TaxTim can assist with this too.