In this Business Talk with Michael Avery interview, Sage Senior Compliance Specialist Bazil Marema discusses the tax responsibilities involved when running a side hustle.<\/p>\n\n\n\n
Marema is registered with the South African Institute of Tax Practitioners (SAIT) and has extensive experience in the tax compliance industry.<\/p>\n\n\n\n
His key focuses are payroll tax, VAT, corporate and individual tax, and international payroll taxes.<\/p>\n\n\n\n
He has worked as a Senior Compliance Specialist for Sage since January 2023 \u2013 before which he served as a Senior Tax Associate at PwC South Africa.<\/p>\n\n\n\n
Marema has an Advanced Diploma in Accounting Sciences from the University of South Africa and a Certificate of Competence as a tax technician from The Tax Faculty.<\/p>\n\n\n\n
Marema begins the interview by unpacking the tax consequences of having a side hustle, including whether you should register with the Companies and Intellectual Property Commission (CIPC).<\/p>\n\n\n\n
He then explains what it means to be a provisional taxpayer and when it’s best to start declaring your side hustle income.<\/p>\n\n\n\n
Marema also outlines the expenses that can be claimed as deductions, what happens if side hustle income isn\u2019t declared, and how to submit a tax return.<\/p>\n\n\n\n
He concludes the interview by outlining the benefits of a side hustle and providing tax compliance tips to those in this position.<\/p>\n\n\n\n
Watch the interview with Bazil Marema below.<\/p>\n\n\n