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Kevin says: 1 July 2015 at 10:03 I am a salaried worker paying annual tax. I also do part time photography on weekends. Can I register my photography business for Turn Over Tax? My annual turn over ranges between R150k-R300k. I have read all the qualifying questions for Turn Over Tax and qualify, but the question is; Is photography deemed as a professional service? It is not listed specifically in the SARS professional services. |
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TaxTim says: 1 July 2015 at 17:49 SARS considers professional services as any of the following: accounting, actuarial science, architecture, auctioneering, auditing, broadcasting, consulting, draftsmanship, education, engineering, financial service broking, health, information technology, journalism, law, management, real estate broking, research, sport, surveying, translation, valuation or veterinary science I would argue that perhaps photography does not fall into any of those categories and so you should be able to apply for turnover tax. |
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Kevin says: 1 July 2015 at 18:03 Thank you very much! So the process is to complete the TT01 form as a "Sole Prop"? Is there another registration I have to complete to become a Sole Prop, or am I be default a Sole Prop as I operate as myself? |
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TaxTim says: 1 July 2015 at 18:11 A sole prop by definition would be a non-incorporated individual run business. You would need to submit this form to SARS and get approval. |
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Kevin says: 1 July 2015 at 18:13 The form I would need to submit for approval would be the TT01? If this is approved, would I be able to submit turnover tax for 1 March 2014 - 28 Feb 2015, or would it only be valid from now? |
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TaxTim says: 1 July 2015 at 18:17 Only SARS can make this determination, you can try backdate that, but this is for SARS to decide and yes it would be the TT01. |
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