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HI
Hope someone can help me.
I have 3 questions on turnover tax, that I can't answer with enough certainty after working through the guides.
1) If someone earn a salary, and have an own business, an they still register the business as a micro business or are they now disqualified?
2) If someone have two businesses as sole proprietor. A medical one (not qualifying) and a retail and fitness training one (qualifying)
Will the be allowed to split the two and register the one as micro business and the other not?
The 2 are not related businesses and the person even with both together do not come close to R1mil.
3) Please confirm:
If a person is registered for VAT.
They have to pay turnover tax twice a year as well as their VAT every 6months.
VAT amount payable is still calculated as normal, just paid twice a year instead of every 2 months.
Hope someone can help me.
I have 3 questions on turnover tax, that I can't answer with enough certainty after working through the guides.
1) If someone earn a salary, and have an own business, an they still register the business as a micro business or are they now disqualified?
2) If someone have two businesses as sole proprietor. A medical one (not qualifying) and a retail and fitness training one (qualifying)
Will the be allowed to split the two and register the one as micro business and the other not?
The 2 are not related businesses and the person even with both together do not come close to R1mil.
3) Please confirm:
If a person is registered for VAT.
They have to pay turnover tax twice a year as well as their VAT every 6months.
VAT amount payable is still calculated as normal, just paid twice a year instead of every 2 months.