PAYE,  Tax

Why do I have to pay income tax at year end if I have more than one income?

I get asked this question quite a lot. If you have more than one income stream during a financial year, the chances are very good that you will need to pay in on your annual income tax return.

Income tax returns

SARS has written a practice note which explains this very good, and one of the best practice notes they have written. Please see the SARS website to read this note. This will give you more insight on how PAYE is calculated, and how it is influenced when a taxpayer have more than one income. Contact us for more info.

income tax for more than one income

I am a registered tax practitioner with more than 10 years' experience with tax and accounting.  Thank you for reading my content, I hope you find it helpful.  Be sure to contact me with your tax related questions.