Income Tax Act, 1962 (Act 58 of 1962)
Sixth Schedule : Determination of Turnover Tax payable by Micro Businesses
Part III : Taxable Turnover
5. Taxable Turnover
The taxable turnover of a registered micro business in relation to any year of assessment consists of all amounts not of a capital nature received by that registered micro business during that year of assessment from carrying on business activities in the Republic, including amounts described in paragraph 6 and excluding amounts described in paragraph 7, less any amounts refunded to any person by that registered micro business in respect of goods or services supplied by that registered micro business to that person during that year of assessment or any previous year of assessment.