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I am part of a CC and I work for another company as well, what are my tax obligations?

Posted 9 July 2013

I am part of a CC and work for another company as well, what I would like to know is, when I do my tax return it asks me if I am a member of a CC and then asks me for my personal assets and my interest in the CC, Could you please elaborate on this, as I don't know how this affects my return.

TaxTim TaxTim says:
9 July 2013 at 15:47

It will not affect your return, SARS just wish to know the assets and liabilities of owners' of business' as most tax evasion takes place at this level. It is there way of tracking whether or not a taxpayer is underdeclaring their income, but is living a lifestyle and owns assets beyond their income means.

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