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Do I qualify for Turn Over Tax?

Posted 28 July 2015 under Tax Q&A


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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 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.

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?

TaxTim 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.

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?

TaxTim 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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