DANIEL BAINES: Consider switching to turnover tax system
You may be able to register your business for turnover tax and have access to reduced tax rates
In a move to encourage the development of small businesses, the government allows certain enterprises to register for a type of tax called turnover tax. If you meet the following main requirements (there are some others that would not affect most people but must be considered), you may be able to register your business for turnover tax and have access to reduced tax rates:
• Your business operates as one of the following vehicles:..