Supreme Court Act, 1959
R 385
Income Tax Act, 1962 (Act No. 58 of 1962)SchedulesSixth Schedule : Determination of Turnover Tax payable by Micro BusinessesPart IV : Registration8. Registration |
| (1) | A person that meets the requirements set out in Part II may elect to be registered as a micro business— |
| (a) | before the beginning of a year of assessment or such later date during that year of assessment as the Commissioner may prescribe by notice in the Gazette; or |
| (b) | in the case of a person that commenced business activities during a year of assessment, within two months from the date of commencement of business activities. |
| (2) | A person that elected to be registered in terms of subparagraph (1) must be registered by the Commissioner with effect from the beginning of that year of assessment. |
| (3) | A person that is deregistered in terms of paragraph 9 or 10 may not again be registered as a micro business. |
[Paragraph 8(3) of the Sixth Schedule substituted by section 99(1) of the Taxation Laws Amendment Act, 2011 (Act No. 24 of 2011) - effective 1 March 2012]
