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 VI : Miscellaneous14. Record keeping |
Notwithstanding the provisions of Part A of Chapter 4 of the Tax Administration Act, a registered micro business must only retain a record of—
[Words preceding paragraph 14(a) substituted by section 271, read with paragraph 101 of Schedule 1, of the Tax Administration Act, 2011 (Act No. 28 of 2011)]
| (a) | amounts received by that registered micro business during a year of assessment; |
| (b) | dividends declared by that registered micro business during a year of assessment; |
| (c) | each asset of that registered micro business as at the end of a year of assessment with a cost price of more than R10 000; and |
| (d) | each liability of that registered micro business as at the end of a year of assessment that exceeded R10 000. |
