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Tax on Dividends

Posted 28 September 2015 under Tax Q&A


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Hannes says:
22 September 2015 at 14:33

I have a small business on the side line where my wife and I are 50/50 owners of the company. I have a job but she does not. Is it best to only declare dividends to her?

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TaxTim TaxTim says:
23 September 2015 at 15:41

How is the company taxed? Is it a registered as a micro business for turnover tax or a Small Business Corporation?
Or is it taxed at normal corporate rates?

Hannes says:
24 September 2015 at 19:09

It is registered as a micro business for turnover tax.

Hannes says:
24 September 2015 at 19:24

It is registered as a micro business for turnover tax.

TaxTim TaxTim says:
27 September 2015 at 15:08

Yes, it is best to take dividends - the first R200,000 for the year will be exempt from dividends tax in the micro-business (thereafter will be subject to dividends tax at 15%) and will also be classified as exempt dividend income in her personal capacity.

Hannes says:
27 September 2015 at 20:16

Thank you very much.

TaxTim TaxTim says:
28 September 2015 at 16:02

Only a pleasure!


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Small
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TaxTim will help you:

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 Claim for all the Deductions your Business Qualifies for
 Turn your Accounting Records into a Tax Return

TaxTim asks you simple questions about your business, then processes your answers and completes your ITR14 business tax return instantly.

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