We run a small business, how do we account for the income tax?

By Marc Sevitz · Updated 17 July 2013

MY girlfriend and I have had our business for about a year now, we would like to know what we are supposed to do? Tax return number? Provisional tax?Corperate income tax?Turnover tax?I don't understand any of it

TaxTim Marc said:
18 July 2013 at 21:59

Is the business a registered entity?

Matt said:
19 July 2013 at 10:45

No, we are independent distributors, the company we work for however is registered.

We source out own business leads and sale, and receive our product from the company.

We are part of herbalife international.

TaxTim Marc said:
21 July 2013 at 19:49

You would register for provisional tax and submit a normal year end tax return. This is because the income earned from the Herbalife would be taxed in your own hands personally.

What is Provisional Tax? How and when?

Am I a Provisional taxpayer?

Salary / IRP5

Independent Contractor

Provisional Tax