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New Member
Tax on Small Business
Good Day guys
I currently work at a school doing teaching, but after hours I do private work as a physio for the disabled children for a maximum of 2 hours a day.
I have bought my own equipment and using one of the schools rooms to do my practice.
What I need to make 100% sure about is what tax I am liable to pay? I earn an income from the school (salary = R9500 p/m) and an income from my practice ( roughly R4000 p/m).
Do pay seperate tax per income or must I combine the two incomes?
Secondly the income from the practice, at what tax rate must I pay it, or since its only
R48,000 p/y do I even have to pay tax on it?
Another thing is, can I charge VAT on the practice invoices and how would I go about that?
Can I claim back for the equipment bought?
Please can someone urgently assist me on this. It would be highly appreciated. Thanks
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