If you’re getting paid to post, it’s time to get serious because the taxman is officially in your DMs.
The South African Revenue Service (SARS) has set its sights on social media influencers, warning that income earned from content creation, brand collabs, and even freebies must be declared or risk facing penalties.
According to Mohau Lebese, managing partner at Accountants on Point, too many influencers are unknowingly stepping into dangerous territory by not reporting their full earnings.
“Influencers are people who make money from having large followings on platforms where they post content aimed at generating revenue,” Lebese explained. “SARS wants those earnings treated like any other income source.”
And it’s not just the big paycheck deals that count. Free meals, gifted outfits, luxury hotel stays, sponsored trips all of it could be considered taxable income, especially if there’s a brand expectation or contract attached.
“Unfortunately, yes, even something as simple as a comped dinner needs to be declared,” Lebese said. “A lot of influencers don’t know this, because many of them started off creating content from home and blew up without any financial or tax knowledge.”
SARS is now urging creators to regularise their tax affairs, especially those receiving income or perks as part of their content or influencer agreements. If there’s a sponsorship deal, collab contract, or product exchange for posts, it may fall under gross income, which must be declared on your annual tax return.
The bottom line? If your content is making you money or even landing you freebies, it’s time to treat it like a business. Get clued up, speak to a tax advisor, and keep your receipts (yes, even for that gifted trip to Cape Town).
Because if SARS comes knocking, “I didn’t know” won’t cut it.
The post Influencer Perks and Sponsorships Now in SARS Spotlight appeared first on EntertainmentSA News South Africa.
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