What is the definition of tax threshold? Tax thresholds? SARS Threshold.
A Tax threshold is the lower limit of earnings at which tax needs to start being paid. So any income less than the current threshold, would not be taxed.

What is Turnover Tax? 
Turnover Tax is a streamlined taxation system designed to simplify tax compliance for small businesses. It replaces several types of taxes—Income Tax, VAT, Provisional Tax, Capital Gains Tax, and Dividends Tax—with a single tax based on turnover. This system is intended for businesses with an annual turnover of up to R1 million, offering them an easier way to manage their tax obligations.

Who can apply for Turnover Tax?

• Individuals (sole proprietors)
• Partnerships
• Close corporations
• Companies
• Co-operatives

***Turnover tax isn’t available for just any business, though, and you’ll have to meet SARS requirements to register.

Click  Here to check if you qualify for Turnover Tax 

What are the benefits of Turnover Tax?

• Less administrative tasks and compliance burden
• Reduced tax rates as tax are calculated on turnover instead of profit
• Tax savings for qualifying small businesses

How Do I Register for Turnover Tax?

Download the application (TT01) Form from the SARS website.

*Please note that the completed Turnover Tax (TT01) application form can only be submitted through the following channels:

• At a SARS branch after making an eBooking on the SARS website https://tools.sars.gov.za/SARSeBooking
• Via email using the following email address contactus@sars.gov.za

How do I submit returns and pay turnover tax?

Micro businesses registered for turnover tax must prepare two provisional returns per year to support their provisional payments. TT02 in August and February, and a final tax return, TT03, per year.

*VERY IMPORTANT: Turnover Taxpayers aren’t able to file and pay taxes via eFiling. The TT03 return must be manually submitted via a SARS appointment or branch.

What Records Does a Micro Business Registered for Turnover Tax Need to Keep?

• Records of all amounts received;
• Records of dividends declared;
• A list of each asset with a cost price of more than R10 000 at the end of the year of assessment as well as of liabilities exceeding R10 000.

Please read our blog on What is Turnover Tax for how to register as a Turnover Taxpayer.