Quote Originally Posted by sykotik View Post
Read a couple of the VAT registration related threads, what ive gathered is avoid VAT registration, unless my turnover exceeds 1 mil p.a i can do without the formality right now....

Also what about tax? ive never registered with SARS... sadly ive never been in the bracket for PAYE until recently ive noticed PAYE on my payslip? What are my tax obligations on a personal capacity and when operating a business as a sole prop?
I'd say that's about right for VAT.

Regarding income tax as a sole proprietor. Long story short: You will need to add all your income earned from the site to your taxable income and you will be able to deduct the expenses you incurred in producing that income. It's obviously a lot more complex than that, but that's the just of it.

At the end of the year you will submit a tax return to SARS detailing the income you've earned (from your job as well as your website) and calculate your tax payable. (You will be able to deduct all the PAYE payments paid by your employer and pay in the net tax payable.)

Make sure you keep comprehensive records.

Does that make sense?