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Tax threshold for business

Posted 19 August 2013

Myself and two others are going to try sell octane boosters in our spare time for extra money as we are students. What are the rules we have to follow if any?

TaxTim Marc TaxTim Marc said:
19 August 2013 at 23:32

How much will you earn each year?

Tyron said:
20 August 2013 at 7:25

About 6000 a month.

Tyron said:
20 August 2013 at 7:25

But could vary

TaxTim Marc TaxTim Marc said:
20 August 2013 at 9:42

You would each need to make a profit of over R67 111 per year in order to have to pay tax, if you do not meet this threshold then you won't need to worry about the income tax implications.

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