Tax Issues Relating to Independent Contractors
The following question was recently received from one of our readers: I see myself as an independent contractor as I do contract work (project management) for different companies. In the 2023 income tax year, I worked for four companies, of which only one indicated on their IRP5 under code 3616 that the income I earned […]
What’s In a Name?
The differences between an allowance, an advance, and a reimbursement are critical when it comes to tax. What’s the difference between an allowance, an advance, and a reimbursement? To many people, these are different terms for the same thing, but to SARS, the category that a payment falls into is critical when it comes to […]