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Nick says: 3 September 2015 at 20:32 I have an IRP5 for my full time job but I did a few hours of consulting (around 30 hours in total) at weekends which I personally invoiced for. How do I reflect this on my tax return? I have paid no tax on the additional hours so far. |
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TaxTim says: 3 September 2015 at 21:23 In the opening questions in your Tax Return, you need to answer "yes" to the question: Did you receive local business, trade or professional income". In the relevant section of your Tax Return, you then need to include this income and you can also deduct any business related expenses incurred in order to reduce the tax liability on this additional consulting income (eg. pro-rata cell phone bills, mileage, etc) |
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TaxTim says: 3 September 2015 at 21:24 Please register for TaxTim and we can assist you to complete and submit your Tax Return to SARS. Register for TaxTim |
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