Turnover tax payments and the TT03 return
When a South African micro business makes its turnover tax interim payments with the TT02, when the TT03 return is due, and how the final payment follows.
By Achekam · · 5 min read · For Running a business businesses in South Africa
Registering for turnover tax swaps several taxes for one, but it does not remove deadlines. A micro business still pays during the year, still files a return after it, and still settles the difference once SARS has processed that return. The rhythm is lighter than the ordinary system, and that is exactly why it is easy to forget.
This article sets out the turnover tax calendar for a South African micro business: the two interim payments, the payment advice used for them, the window for the annual TT03 return and the final payment. It finishes with how to get a dependable turnover figure for each half of the year from your own books.
Two interim payments a year
SARS says turnover tax interim payments are due on the last business day of August and the last business day of February.
The dates are tied to business days, not to the end of the month as such. When the last day of August or February falls on a weekend or public holiday, the deadline is the last working day before it. In a year when February ends on a Saturday, for example, the payment is due on the Friday.
Each interim payment is an advance on the year's turnover tax. The rate table SARS publishes for years of assessment ending between 1 March 2026 and 28 February 2027 is:
| Taxable turnover | Turnover tax |
|---|---|
| Up to R600 000 | 0% |
| Above R600 000, up to R950 000 | 1% of the amount above R600 000 |
| Above R950 000, up to R1 400 000 | R3 500 plus 2% of the amount above R950 000 |
| Above R1 400 000 | R12 500 plus 3% of the amount above R1 400 000 |
A business whose turnover for the year will stay within the 0% band has little to pay in advance. One near the top of the table has real amounts at stake, and an interim estimate that is far too low leaves a large balance for the end of the year. The thresholds and the rest of the regime are explained in turnover tax for micro businesses from April 2026.
The TT02 payment advice
SARS says the interim payments are made using the TT02 payment advice. Use it for each interim payment, so that what you pay is identified as turnover tax for the right period.
SARS's general payment rules then apply on top. They say EFT payments are made to the relevant SARS public beneficiary listed on the bank's platform, with names such as SARS-VAT, SARS-PAYE or SARS-PROV, and that a payment is only accepted if the correct 19-digit payment reference number is used. Use the payment reference and the beneficiary SARS gives for your turnover tax payment, rather than reusing the details from another tax.
Paying so it arrives in time
The same payment rules say SARS only recognises a payment once it is received into the SARS bank account. A payment received after the due date is a late payment, so taxpayers must pay before their bank's cut-off time.
With a deadline that is already the last business day of the month, there is no margin. A payment made on the evening of that day may not reach SARS until after it. Plan to pay a few working days early, and keep the bank's confirmation with the TT02.
The TT03 annual return and the final payment
After the year ends, the business files its annual turnover tax return, the TT03. SARS says TT03 returns are submitted in line with annual income tax returns, between 1 July and 31 January of the following year.
The final payment comes after that. SARS says the final payment follows once the annual TT03 return is processed. In other words, the two interim payments are estimates; the TT03 states the actual taxable turnover for the year, SARS processes it, and the business pays whatever is still owed.
Put on one page, the year looks like this for a business with a March-to-February year:
| When | What | Document |
|---|---|---|
| Last business day of August | First interim payment | TT02 |
| Last business day of February | Second interim payment | TT02 |
| 1 July to 31 January after year end | Annual return | TT03 |
| After the TT03 is processed | Final payment | As SARS's assessment shows |
SARS's turnover tax page sets out the interim payment dates, the TT02 and TT03, and the rate table, and is the place to check each date before you rely on it.
Turnover for each half year from your books
Every payment in that calendar rests on a turnover figure, and the most defensible figure is the one in your own ledger.
In Achekam, management accounts show an income statement for a chosen period beside the period before, and a balance sheet at period end, both added up from your own journals and exportable as PDF or CSV. For the August payment, run the income statement from March to the latest month-end and estimate the rest of the year; for the February payment, run the year to date. The side-by-side comparison with the previous period shows at once whether turnover is running ahead of last year.
One setting to watch: the year-to-date preset starts on 1 January, not on your own year start. For a business on a March-to-February year, pick the dates yourself rather than using the preset, or the figure will straddle two tax years.
Keep the diary outside Achekam. The obligations list on Achekam's Tax Dashboard shows sample data, and obligations added there are not saved, so it cannot be relied on to remind you of turnover tax dates. Put the four dates in the table above into a calendar that someone actually checks. The records SARS expects you to keep alongside these returns are covered in records a turnover tax business must keep.
Before the next interim payment
Diarise the two interim dates, the TT03 window and a reminder to check the final assessment. A week before each interim date, run your income statement, estimate the year, and pay with the TT02 reference a few days early. That small routine is most of what turnover tax asks of you.
General guidance only, not advice on your own circumstances. Tax and payroll rules change: check the current position with the authority or your adviser.
