Foreign (US Dollars) Receipt into SA

**Blurock** · 08-Aug-12, 01:46 PM

Originally Posted by Dave A

If they're investing in the company, I'd suggest they pay into the company account rather than your personal account.

I agree with Dave, do things right the first time, then you do not have to explain yourself at a later stage. I like to sleep peacefully at night. No skeletons to keep me awake.

You only get taxed on your profits. There may be set up costs and other tax deductible expenses that you can claim once you start earning a revenue from the business. Very hard to prove if everything goes through your private account.