I have a few questions regarding a PSP type company.
After reading all the Sars intepretation documents I am definately in the PSP category.
However ive struggled getting infomation i need to start up.
1. Does my client withhold employee tax at a rate of 33% or 28%? I see both values in the docs
2. When I sumbit my IRP5 form will I get money back as the tax rate above is more than I would get taxed if I was paid as an individual?
3. if i employee a secratary who is under the threshold do I still need to submit EMP201 forms?
4. According to the intepretation a psp is allowed to deduct wages and salaries
- where do I fill in these deductions?
- When do I fill in these deductions?
- What form do I use for these deductions?
5. Is it better to be and individual or a PSP?