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Updated Turnover Tax TT1 Application Form

Wednesday, 06 March 2013   (0 Comments)
Posted by: Herman van Dyk
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A turnover tax system is available for micro businesses with a turnover of up to R1 million per annum. This is an elective tax system.

Such businesses are taxed on their turnover instead of taxable income.

Turnover tax effectively replaces normal tax and value-added tax.

SARS recently issued an updated TT01 Turnover Tax Application Form.

Please click here to download.



Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

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