Results 1 to 3 of 3

Thread: Turnover Tax

  1. #1
    Silver Member Christel's Avatar
    Join Date
    Feb 2012
    Location
    Port Elizabeth
    Posts
    328
    Thanks
    53
    Thanked 90 Times in 64 Posts

    Turnover Tax

    I have a friend who is employed full time but has started a grass-cutting services for farmers as a side-line - trading in his personal capacity. Would the best tax wise decision be to register for Turnover tax? And if he does, how does it work with him still earning a salary as well?
    always fear when Christel is near....

  2. #2
    Full Member EAB's Avatar
    Join Date
    Jun 2016
    Location
    Roodepoort
    Posts
    74
    Thanks
    0
    Thanked 13 Times in 12 Posts
    It will not be possible to say with the limited info.

    The best will be to sit down and do calculations based on both scenarios and to make a decision from that.

  3. #3
    Silver Member Greig Whitton's Avatar
    Join Date
    Mar 2014
    Location
    Cape Town
    Posts
    316
    Thanks
    32
    Thanked 99 Times in 81 Posts
    Turnover Tax is based on gross turnover (not taxable income) and, as such, is a terrible idea masquerading as a convenience for SMEs.

    Founder of Evergrow - Helping South African business owners grow their business without the growing pains

  4. Thanks given for this post:

    Andromeda (22-Sep-16)

Similar Threads

  1. Turnover Tax
    By Jacky in forum Tax Forum
    Replies: 1
    Last Post: 30-Mar-15, 01:35 PM
  2. Is Turnover Tax worth it?
    By Intothedeepbluesea in forum Tax Forum
    Replies: 15
    Last Post: 03-Jul-14, 08:32 PM
  3. Turnover TAX
    By league_of_ordinary_men in forum Tax Forum
    Replies: 4
    Last Post: 22-Jun-12, 01:34 PM
  4. Help Turnover Tax
    By Robot in forum Tax Forum
    Replies: 1
    Last Post: 28-Feb-10, 09:34 PM
  5. Parliament's 82% turnover
    By duncan drennan in forum General Business Forum
    Replies: 1
    Last Post: 15-Aug-06, 10:32 AM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •