Hi. I need clarification please I have a job I do consulting work. So I get paid per hour and every month I invoice my boss and as per agreement I have to do my own taxes. Am I an independent contractor should I register for provisional tax
Good afternoon Yes, as independent contractor you must declare provisional tax Aug and Feb. You may book a zoom call here : info@dryk.co.za of WA 0828726404
hELLO Brother Jasper I have a case for a company that didnt submit provisional tax for 2022 period. DATA FROM THEIR P&L 1STMarch 2021 - 31st August 2021 the profit is R201140 FULL YEAR 1ST March 2021- FEB 2022 There is a losss of -73257 so after watching. your video I assume I will be writing Zero 0 at the (Estimated taxable section) for Provisional tax period 1 & 2 which means they wont be paying anything I will appreciate your response out of your busy schedule.
hey Jasper, thanks for the effort, appreciate the video. Just wanna know if bloggers fall under provisional tax payers, if not, do bloggers pay tax in South Africa?
Good afternoon. Pleasure Thabang There might be a number of aspects to discuss. Will you please send your details on our contact form: www.entrepreneur-sa.com. I will arrange a Zoom call with you to discuss. Blessings 🙌
Hi, I'm a 21 year old male and I'm a freelance artist who makes money selling their work online, I have a small amount of money saved up in PayPal, I want to know how to register for provisional tax and create a bank account and how to pay provisional tax.
The 3rd Provisional Tax submission is end of Sept (for Feb year-end), to prevent penalties and interest in case of an under provision for income tax (in the 1st and 2nd PT periods)
Hi. I'm not sure if I should be paying provisional tax or individual tax. I work with my mother, we have two different departments under one name. All income gets paid into her account for ease of invoicing and she pays my portion to me end of month like a salary... However all expenses for my department like furniture, consumables, stock etc I pay for from my own money. So how do I do this. She is also running an sole proprietor. I feel like I'm running on both sides - sole proprietor and employee. Please advise on how I can claim my business expenses. And if I should get my customers to pay separately from hers if this Is all making it too complicated.
Good morning I would love to book a free Zoom with you early next year. We can discuss your question in details. Contact me through our website please : www.entrepreneur-sa.com. Blessings
1:30 Is this information still the same for 2023 tax year? Specifically salary earners with part-time business earning less than 30k pa. Wondering because I fall in that category as my side business currently still earns
Hi The Frugal Rhino. Yes same information. I would suggest you consider provisional tax if your business generate a net profit. The net profit of the business PLUS your salary will put you in a higher Income Tax bracket, and will cause additional income tax. Contact us if you need assistance. info@dryk.co.za WhatsApp : 0828726404
Hi, please help. I am late for provisional tax return for August 2020. It would have been my second submittion since my business started operating and my tax practitioner passed due to Covid. I have compile all my finances and I think I am ready file on my own, but dont know how to use the e-filing system. Its so confusing. I don't know where to begin. I need to file both provisional and annual.
Good morning Buyisiwe. We will definitely be able to assist you. Will you please email to info@dryk.co.za or WatsApp to 0828726404 for assistance. Blessings for your week
Hi. I haven’t started my freelance work and I was told to file a provisional tax for 6 months, but when do I do that? Is there a certain income I need to be earning first to start with dealing with SARS?
Good morning. Good question. Provisional tax is very six months, regardless of the taxable income. You still need to file a return. Its every 6 months from the year end of the company. As for most companies the year end is 28 Feb, and thus the provisional tax returns are due August and February every year. If you fail to do so, your TCS Pin (Tax Clearance) will not be valid any more
Hello again Jasper. I hope that you are doing well. I want to open up a PTY but will be a Personal Service Provider. I will also be earning Commission. What deductions are applicable if more than half of my salary is commission based? Thanks so much and have a great day further 😊
Hi Sonia. My apologies, I have missed this question. When you company (PTY or CC) earns more than 80% of its income from ONE source, it will be a PSP with almost no deductions. Contact me to discuss the best options for you info@dryk.co.za WhatsApp : 0828726404
Hi I started a small business last year and I haven’t made any much profit from it (less that 5k) am I required to pay tax and submit any documents and which documents are needed?
@@pearlralane165 Morning You need to submit a provisional tax return, even though it might be Zero. Feel free to contact us on WhatsApp wa.me/27828726404 OR email : info@dryk.co.za Blessings
Hi, I'm interested in finding put if my situation falls under provisional tax. I work for a us company and receive my salary from them. They also provide me with benefits such as medical aid on top of this. How would I handle separating my salary and those benefits that they provide and would otherwise pay on my behalf If they were in SA but send through together with my salary and also am I a provisional taxpayer?
Yes, you are most definitely a provisional tax payer. We will be able to assist you. Contact us on 0828726404 and the office will arrange a free Zoom call for us. Blessings
Hi. How do file a third payment for provisional tax on efiling? What is the process? I have navigated through the entire site and cannot see where I can file the 3rd IRP6?
Good morning Sonia. Good question! You don’t have to submit a provisional tax return, but merely do the payment. Its important to use the correct PRN. Blessings
I'm a salary earner I have started a rental on my private property will have plus or minus 110k pa. Am I a provisional tax payer already. What about the estimate of income is it from April to March or January to December?
Good morning Lungani. Good question. Your prov tax periods will most likely be Feb and Aug. Would love to arrange a Zoom with you to discuss your tax situation. WhatsApp the office hear to arrange a Zoom with me: wa.me/27828726404 Blessings for your week
Hi. I need clarification please I have a job I do consulting work. So I get paid per hour and every month I invoice my boss and as per agreement I have to do my own taxes. Am I an independent contractor should I register for provisional tax
Good afternoon
Yes, as independent contractor you must declare provisional tax Aug and Feb. You may book a zoom call here : info@dryk.co.za of WA 0828726404
Thanks very much!
Its a pleasure 🙌🤝
Definitely the clearest and most helpful explanation of this I have seen. SARS should hire you to do clips for them!
Thank you for the kind words 🙌 Glad you found value from this
Keep in mind, interesting facts. Thank you
🙌
I'm so sad I can't see the replies you've written to all the comments on this video 😢 anyway, thank you very much for this helpful video 👌🏼
Its a pleasure. Blessings 🙌
Great, thank you!
Pleasure 🙏
Blessings
hELLO Brother Jasper I have a case for a company that didnt submit provisional tax for 2022 period.
DATA FROM THEIR P&L
1STMarch 2021 - 31st August 2021 the profit is R201140
FULL YEAR 1ST March 2021- FEB 2022 There is a losss of -73257
so after watching. your video I assume I will be writing Zero 0 at the (Estimated taxable section) for Provisional tax period 1 & 2 which means they wont be paying anything
I will appreciate your response out of your busy schedule.
Morning. I would submit zero returns yes 🤝
Blessings
hey Jasper, thanks for the effort, appreciate the video. Just wanna know if bloggers fall under provisional tax payers, if not, do bloggers pay tax in South Africa?
Good afternoon.
Pleasure Thabang
There might be a number of aspects to discuss.
Will you please send your details on our contact form: www.entrepreneur-sa.com.
I will arrange a Zoom call with you to discuss.
Blessings 🙌
Hi, I'm a 21 year old male and I'm a freelance artist who makes money selling their work online, I have a small amount of money saved up in PayPal, I want to know how to register for provisional tax and create a bank account and how to pay provisional tax.
Good morning
Feel free to contact me to discuss:
info@dryk.co.za
0828726404
What is that 3rd submission in July (for the previous tax year) called? Is it still technically a provisional tax submission?
The 3rd Provisional Tax submission is end of Sept (for Feb year-end), to prevent penalties and interest in case of an under provision for income tax (in the 1st and 2nd PT periods)
👌🏆
Thank you
🔥🙏
Thank you
Hi. I'm not sure if I should be paying provisional tax or individual tax. I work with my mother, we have two different departments under one name. All income gets paid into her account for ease of invoicing and she pays my portion to me end of month like a salary... However all expenses for my department like furniture, consumables, stock etc I pay for from my own money. So how do I do this. She is also running an sole proprietor. I feel like I'm running on both sides - sole proprietor and employee. Please advise on how I can claim my business expenses. And if I should get my customers to pay separately from hers if this Is all making it too complicated.
Good morning
I would love to book a free Zoom with you early next year. We can discuss your question in details. Contact me through our website please : www.entrepreneur-sa.com. Blessings
1:30 Is this information still the same for 2023 tax year? Specifically salary earners with part-time business earning less than 30k pa. Wondering because I fall in that category as my side business currently still earns
Hi The Frugal Rhino.
Yes same information. I would suggest you consider provisional tax if your business generate a net profit. The net profit of the business PLUS your salary will put you in a higher Income Tax bracket, and will cause additional income tax.
Contact us if you need assistance.
info@dryk.co.za
WhatsApp : 0828726404
Hi, please help. I am late for provisional tax return for August 2020. It would have been my second submittion since my business started operating and my tax practitioner passed due to Covid. I have compile all my finances and I think I am ready file on my own, but dont know how to use the e-filing system. Its so confusing. I don't know where to begin. I need to file both provisional and annual.
Good morning Buyisiwe. We will definitely be able to assist you. Will you please email to info@dryk.co.za or WatsApp to 0828726404 for assistance. Blessings for your week
Hi. I haven’t started my freelance work and I was told to file a provisional tax for 6 months, but when do I do that? Is there a certain income I need to be earning first to start with dealing with SARS?
Good morning. Good question. Provisional tax is very six months, regardless of the taxable income. You still need to file a return.
Its every 6 months from the year end of the company. As for most companies the year end is 28 Feb, and thus the provisional tax returns are due August and February every year.
If you fail to do so, your TCS Pin (Tax Clearance) will not be valid any more
Hello again Jasper. I hope that you are doing well. I want to open up a PTY but will be a Personal Service Provider. I will also be earning Commission. What deductions are applicable if more than half of my salary is commission based?
Thanks so much and have a great day further 😊
Hi Sonia. My apologies, I have missed this question. When you company (PTY or CC) earns more than 80% of its income from ONE source, it will be a PSP with almost no deductions.
Contact me to discuss the best options for you
info@dryk.co.za
WhatsApp : 0828726404
Hi I started a small business last year and I haven’t made any much profit from it (less that 5k) am I required to pay tax and submit any documents and which documents are needed?
Hi Pearl. Did you trade in a Company ?
@@jasperbasson yes I did
@@pearlralane165 Morning
You need to submit a provisional tax return, even though it might be Zero.
Feel free to contact us on WhatsApp wa.me/27828726404 OR email : info@dryk.co.za
Blessings
Hi, I'm interested in finding put if my situation falls under provisional tax. I work for a us company and receive my salary from them. They also provide me with benefits such as medical aid on top of this. How would I handle separating my salary and those benefits that they provide and would otherwise pay on my behalf If they were in SA but send through together with my salary and also am I a provisional taxpayer?
Yes, you are most definitely a provisional tax payer. We will be able to assist you. Contact us on 0828726404 and the office will arrange a free Zoom call for us. Blessings
Will do😁
Hi. How do file a third payment for provisional tax on efiling? What is the process? I have navigated through the entire site and cannot see where I can file the 3rd IRP6?
Good morning Sonia. Good question! You don’t have to submit a provisional tax return, but merely do the payment. Its important to use the correct PRN. Blessings
@@jasperbasson thank you so much 💗🙏💗
@@soniamanning8995 Pleasure 🙌
What if your fiscal year is 1/10/2018 to 30/09/2019
White Diamond Naidoo Good evening. The provisional tax months will be End of March and end of Sept, every year
Thank you so much
30 000 rental income?
I'm a salary earner I have started a rental on my private property will have plus or minus 110k pa. Am I a provisional tax payer already. What about the estimate of income is it from April to March or January to December?
Good morning Lungani. Good question. Your prov tax periods will most likely be Feb and Aug.
Would love to arrange a Zoom with you to discuss your tax situation.
WhatsApp the office hear to arrange a Zoom with me:
wa.me/27828726404
Blessings for your week