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Company registration necessary? I am a psychologist.

Posted 30 August 2013

Dear Tim,

I am a psychologist and started running a private practice at the beginning of the year. Renting office space and have other expenses that have been business related. So it is 'personal service'. Would it be advisable for me to register it as a business?

TaxTim Marc TaxTim Marc said:
2 September 2013 at 0:37

Not unless your taxable income exceeds about R400 000 per year would it make sense, due to the higher taxes paid for a business at 28%.

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