How does income tax work in South Africa? 2024

How does income tax work in South Africa?
How does provisional tax work in South Africa?

Here are the answers:

Income tax and provisional tax in South Africa can be tricky, however I put this video together to explain the basics about income tax and provisional tax in South Africa in a very simple and practical way!

Please like my video and subscribe to my channel, there will be more videos to follow.

Topics I covered
Timelines
Due dates for tax returns
SARS assessments
Company tax rates in South Africa
How provisional tax works
Turnover tax
Small Business Corporation tax rates
Individual income tax rates
Pay as you earn

You will also find answers to the following questions
- How does income tax work in South Africa?
-How does provision tax work in South Africa?
-How does SARS tax works?
How does company tax work?

After watching this video you will have a good basic understanding of how income tax and provisional tax works in South Africa!

[comfortxalisa]

Thank you so much for the valuable information. Please explain how the company gets to pay for rent if one is working from home.

[tyresemini]

Excellent explanation. Subscribing immediately. Very insightful and a great level of understanding in this video

[olwehzun]

Hey there
Thank you for sharing your knowledge with us!
Content suggestion: tax write-offs for small businesses

[zamiletshali]

Love the simplicity of the lessons 😅 thus I follow, like & sub🧐

[bosveldklong]

Can you please explain the siplest way of determining how much tax you will pay on your income when you qualify for commission/ incentives. In other words, how much income I can get before falling into the next tax bracket.

[vicioussharks]

Hi what assets to i do own to qualify for a tax write off. Also how to pay less tax legally

[sonezojama]

Just found your informative vidz today. I had to subscribe and like for more vidz. Thanks for a clear and precise info.

[lovingsoul]

Your uploads are my personal favourites hey, thanks for the knowledge.

[joshuabukuru]

This was a great explanation, thanks!

[lesetjaledwaba]

Great presentation sir 🙏 please do a presentation about bankruptcy your effort is highly appreciated

[Mr-Borin]

Still going over my head Don't matter how many YouTube videos I watch i still unsure where and how to pay 😅

[percyclaassen]

Hi I'm in saps and going to resign my payout is 2, 9million. Rand I want to no how much is sars going to tax me

[jaendreburger]

Great video and thank you for the explanation it is a huge help. I want to know, if I buy a product for exp a TV for R3000 VAT included do I have to pay tax on it again latet on or is it only on specific products that you pay tax on twice or yearly.

[Dulge]

Im currently a freelancer making money through editing and earning a salary of around $2400 (Around 42k in rands) and there is no official fixed contract, how will i be taxed and what should i do to legalize myself i guess you can say? I get paid through paypal and from their transfer money to bank account.

[CariMayJordaan]

Excellent thank you. Clear presentation, easy to follow and down to thepoint. Highly recommended.

[jessleslie]

Hi there. I have a question that might sound silly. But how do you know when if you should be paying tax or not? I’m 25, currently studying so not working, however I do have some savings. Do I therefore need to pay taxes on my savings? Thanks!

[sysueofficial]

Thank you, really needed to know this 😭

[rendered_useless]

Hi there.

Based off my current salary and some online tax calculators I used, I found that I am paying less than 18% tax on PAYE basis... Please could you explain how this works.

My salary is around 180k per year, so I'm assuming it should always be 18% flat rate paid per month, as the bracket for 18% is R0-R205k, however when I get my pay slip each month they have only deducted around 10% tax.

Is this to say that if you fall below the maximum amount of each tax bracket you are charged less on your tax?

[calebcrafted]

School isn't giving me this information

[Tkysworldwide]

So when you owning a company and the company pays you does it mean u pay for the business and for yr personal