Category: Paragraph 6 (Sixth Schedule) – Inclusions in taxable turnover

Paragraph 6

 

  1. Item (a)(i) substituted by section 88 of Act 7 of 2010 effective on 1 March 2011.

 

  1. Item (a)(ii) substituted by section 88 of Act 7 of 2010 effective on 1 March 2011.

 

  1. Subparagraph (b) substituted by section 88 of Act 7 of 2010 and section 98 of Act 24 of 2011 effective on 1 April 2012.

 

  1. Subparagraph (c) deleted by section 88 of Act 7 of 2010 effective on 1 March 2011.

Paragraph 6 (Sixth Schedule) – Inclusions of taxable turnover

Posted on by admin_kmos

6.     INCLUSIONS IN TAXABLE TURNOVER

 

The taxable turnover of a registered micro business includes-

 

(a)     50 per cent of all receipts of a capital nature from the disposal of-

 

(i)      immovable property mainly used for business purposes, other than trading stock; and

 

(ii)     any other asset used mainly for business purposes, other than any financial instrument; and

 

(b)     in the case of a company, investment income (other than dividends and foreign dividends).