10/09/2026
Side income should not be dealt with for the first time when the ITR12 is prepared.
In “Underreported Side Income and What Practitioners Miss Before the ITR12”, Roxanna Naidoo examines what happens when consulting fees, freelance work or online income are excluded from provisional tax estimates.
The absence of a tax certificate does not make the income non-taxable. Declaring only the amount transferred by an online platform may also be incorrect where commissions or conversion charges were deducted before settlement.
Practitioners should ask direct questions about additional income, classify material deposits and retain supporting records while the transactions are still recent.
Read the full article in Issue 119 of TaxTalk.