When a client with a micro business asks you about turnover tax, does it send chills down your spine? Many taxpayers and practitioners are put off by this simplified taxation method due to a lack of understanding of the intricate rules outlined by SARS for eligibility as a turnover taxpayer.
SARS provides an online test on their website to establish whether your client is eligible to register for this tax system. You can try the test out here: Do I qualify for Turnover Tax?
However, as easy as taking the test may seem, tax professionals need to understand the rules, terminology, and correct procedures to advise clients appropriately.
The aim of this session is to discuss:
At the end of this session, you will be able to successfully: