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If I earned only 55.000 Rand for the whole year through freelance activities, will I have to pay tax
Posted 27 October 2014
I understand that the tax threshold in 2014 is 70700 Rand. In the financial year 2013/2014 I have earned only 55.000 Rand through freelance activities with different companies (I am a student). So my question is, will I have to try to bring the taxable income even more down (e.g. through claiming business expenses, medical expenses etc.) or do I need not bother as I am anyway below the threshold?
TaxTimsays: 28 October 2014 at 16:56
If you are below the threshold then you should not be paying tax so it won't make a difference if you have expenses or not.