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Can a self-employed person get a home loan in South Africa?

 How to get a home loan when you are self-employed Can a self-employed person get a home loan in South Africa? The simple answer is yes. But the bank or the financial institute will have certain requirements that self-employed person has to meet.  These are similar to the rules that registered companies must follow. The moment you earn an extra income, the South African Revenue Service sees it as a business income and you are expected to have financial statements and pay taxes.  Before you apply for a home loan, first find out what amount you qualify. Determine exactly what the bank would need from you before you apply. This would speed up the process and the bank doesn't have to wait for outstanding documents that you probably don't have and still have to search for. If you're applying for a home loan as a self-employed person , then these tips can streamline the process and increase your chances of approval. These are the things to do before you apply for the home loan....

Sars efiling explained | Step by step guide on how to sign up for sars efiling

 

What is efiling and how to sign up


Sars efiling explained | Step by step guide on how to sign up for sars efiling

Step-by-step guide on how to sign up for Sars efiling


SARS eFiling is an online platform in South Africa that allows individuals and businesses to submit their tax returns, make tax payments, and interact with the South African Revenue Service (SARS) electronically. It simplifies the tax filing process and eliminates the need for paper-based forms and manual submissions.


Signing up for SARS eFiling involves a few steps. Here's a detailed explanation:


1. Visit the SARS eFiling website: Go to the SARS eFiling website by typing "SARS eFiling" into your search engine. Make sure you are on the official SARS website to ensure the security of your personal information.


2. Register for eFiling: On the SARS eFiling homepage, click on the "Register" button. This will redirect you to the registration page. Select the appropriate registration type based on your profile (individual taxpayer, tax practitioner, or representative taxpayer).


3. Personal details: Fill in your personal details, such as your South African ID number, full name, contact details, and preferred username and password. Create a secure password that includes a combination of letters, numbers, and special characters.


4. Verification and activation: SARS will verify your personal details against their records to ensure accuracy. Once verified, they will send an activation PIN to your registered mobile number or email address. Enter the activation PIN on the eFiling website to complete the registration process.


5. Login: After successful activation, return to the SARS eFiling homepage and log in using your chosen username and password.



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