VAT Registration Requirements

[AmithS]

Hello,

Regarding VAT registration for businesses with turnover under R1 000 000 and over R50 000 in a 12 month period.

Is the interpretation of the 12 month period - the businesses last financial year or the last 12 months at date of R50 000 cumulative turnover irrespective of financial year ending? (if this question makes sense)

Thanks,