I started a small business where I provide administrative services to one company at a cost of R10 000 per month. What will the tax implications be? Will I be able to register for turnover tax or what would be the best option?
Is bookkeeping/accounting provided as part of your services?
Nanetsays: 26 October 2015 at 17:20
Yes it is part of the service.
TaxTimsays: 26 October 2015 at 18:36
You cannot register for turnover tax as the Tax Act specifically excludes a person, from registering as a micro-business for turnover tax, that provides a "professional service" which includes a service in the field of accounting.