Results 1 to 2 of 2

Thread: Tax on hobby income

  1. #1
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Durban, South Africa
    Thanked 2,584 Times in 2,179 Posts
    Blog Entries

    Tax on hobby income

    At what point does a hobby turn into a business?

    I know that if you happen to make the odd buck from a hobby, SARS is not interested as it would open the door to claiming all those expenses. But sometimes that hobby income can grow to a reasonable nett income.

    At what point would SARS decide you now need to declare hobby income as taxable income?

  2. #2
    Join Date
    Feb 2009
    South Arica
    Thanked 26 Times in 23 Posts
    I remember asking the same question. The answer was that the small business rule applies. I cannot remember the amounts so please just contact SARS and ask them what the minimal taxable amount for a small business is. Also to keep yourself out of trouble I recommend you pay in voluntary TAX thus avoiding any nasty comebacks from SARS...

Similar Threads

  1. Income tax rates 2010: Individuals and Trusts
    By Morticia in forum Tax Forum
    Replies: 4
    Last Post: 13-Mar-09, 12:42 PM
  2. 2008 income tax return filing season starts
    By Dave A in forum Tax Forum
    Replies: 5
    Last Post: 19-Jan-09, 09:47 PM
  3. Tax Amnesty for Small Business
    By I Robot in forum News Archive
    Replies: 13
    Last Post: 07-Jun-07, 08:18 AM
  4. Flat tax rates for SA.
    By Dave A in forum General Business Forum
    Replies: 3
    Last Post: 13-Apr-07, 10:25 PM

Tags for this Thread

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts