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How to declare foreign trading income



Elsabé says:
30 January 2017 at 20:09

My declared foreign income is the same as I declared as the profit for a business because of online graphic design work - I get paid in USD via Paypal and via FNB. Should I only declare this once and remove it from the business? I would hate to pay tax for twice that of my earnings! Please help, thank you.

TaxTim TaxTim says:
31 January 2017 at 8:00

You only declare the income in the business section as the income even though it was paid from abroad is deemed to have been earned by you while you were in South Africa so its regarded as local income and not foreign.

Elsabé says:
31 January 2017 at 8:17

Thank you so much! Appreciate the advice.

TaxTim TaxTim says:
31 January 2017 at 9:00

Only a pleasure!

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