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Hello folks
I have recently established a PTY company providing consulting services and currently the sole employee for that PTY. I know I am regarded as a Personal Service Provider (PSP) because I fit squarely in the definition of a PSP. My client will be paying my first invoice at the end of this month.
I am going to pay myself the entire amount I will invoice my clients as my salary. My question is by when and how do I pay to SARS the income tax my PTY company would have withheld from my Salary.
Secondly what deductions is my PTY I allowed considering the PTY is a PSP?
I have recently established a PTY company providing consulting services and currently the sole employee for that PTY. I know I am regarded as a Personal Service Provider (PSP) because I fit squarely in the definition of a PSP. My client will be paying my first invoice at the end of this month.
I am going to pay myself the entire amount I will invoice my clients as my salary. My question is by when and how do I pay to SARS the income tax my PTY company would have withheld from my Salary.
Secondly what deductions is my PTY I allowed considering the PTY is a PSP?