PART IV
Registration
Category: PART IV – Registration
Paragraph 8 (Sixth Schedule) – Registration
8. 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 9 (Sixth Schedule) – Voluntary registration
9. VOLUNTARY DEREGISTRATION
(1) A registered micro business may elect to be deregistered 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.
(2) A registered micro business that elects to be deregistered under subparagraph (1) must be deregistered by the Commissioner with effect from the beginning of that year of assessment.
(3) ………..
[Subparagraph (3) deleted by section 72 of Act 43 of 2014 effective on 1 January 2016]
Paragraph 10 (Sixth Schedule) – Compulsory deregistration
10. COMPULSORY DEREGISTRATION
(1) A registered micro business must notify the Commissioner within 21 days from the date on which-
(a) the qualifying turnover of that registered micro business for a year of assessment exceeds the amount described in paragraph 2, or there are reasonable grounds for believing that the qualifying turnover will exceed that amount; or
(b) that registered micro business is disqualified in terms of paragraph 3.
(2) The Commissioner must, subject to subparagraph (3), deregister a registered micro business with effect from the beginning of the month following the month during which the event as described in subparagraph (1)(a) or (1)(b) occurred.
(3) If the increase in the qualifying turnover of that person to an amount greater than the amount described in paragraph 2 is of a nominal and temporary nature, the person must apply to the Commissioner for a decision whether the person must remain a registered micro business or not.
[Subparagraph (3) substituted by section 90 of Act 25 of 2015 effective on 8 January 2016]