Registering for Turnover Tax. Turnover tax is a simplified tax system for small businesses with a qualifying turnover of not more than R1 million per annum. It is a tax based on the taxable turnover of a business and is available to sole proprietors (individuals), partnerships, close corporations, companies and co-operatives.

Top Tip: Personal Service Providers are no longer taxed separately and are taxed as a company or as a Trust. The following rates of tax apply for financial years ending on any date between 1 April 2011 – 31 March 2012 for: ​Type, ​Rate of tax. Personal service provider companies​, ​33%. ​Foreign resident companies …

May 29, 2017 – There are certain tax incentives especially designed for small business. A small business that qualifies as a small business corporation (SBC) pays no income tax on the first R75 750 taxable income (for financial years ending on any date between 1 April 2017 and 31 March 2018).

Tax Guide for Small Businesses 2016/2017 ii. Comments or suggestions on this guide may be sent to policycomments@sars.gov.za. Prepared by. Legal Counsel. SOUTH AFRICAN REVENUE SERVICE. Date of 1st issue : November 2008. Date of 2nd issue : December 2009. Date of 3rd issue : February 2011. Date of 4th …

Jan 7, 2016 – Any business may choose to register voluntarily if the income earned, in the past twelve month period, exceeded R50 000. A small business that is registered as a micro business under the Sixth Schedule of the Income Tax Act may also register for VAT and may elect to submit returns and payments every …

Nov 19, 2014 – If you are a close corporation, co-operative or a private company, you may qualify for certain tax incentives and preferential rates in terms of the small business corporation (SBC) incentive. Alternatively, if you are a natural person or a company and you meet specific requirements, you may qualify for the …

Nov 19, 2014 – For a full definition please read the Tax Guide for Small Businesses 2012/13 below. Small, medium and micro enterprises (SMMEs). Information on SMMEs, details of various assistance schemes, rebates, incentives and information the as how to start a business, types of business entities and requirements …