Turnover Tax

This simplified Turnover Tax based system applies to small sole proprietors, partnerships and incorporated businesses with a turnover of less than R1 million per year.

This system is elective. For years of assessment commencing on or after 1 March 2012, a micro-business can voluntarily exit the system at the end of any year of assessment.  However, once out of the system the taxpayer will not be permitted to re-enter.

Prior to this, a three year lock-in period existed for exit and re-entry into the system.  Personal services are rendered under employment-like conditions and certain professional services are excluded from this system.

For years of assessment commencing on or after 1 March 2018, transitional measures have been introduced to eliminate penalties when turnover exceeds R1 million and the micro-business is obliged to exit the system.

1 March 2015 to 28 February 2024

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