14.     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-

 

(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.