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What amount of tax can a sole proprietor expect to pay, on profit of R105504 ,and salary of R281590?

Posted 24 November 2015 under Tax Q&A


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Megs says:
24 November 2015 at 12:55

I run a small business, a sole proprieter. Over the 2014/2015 tax year a earned an annual salary of R281590, I also realised a profit of R105504. According to my accountant, I need to pay R22408 in tax for the financial year. Is this correct, as it seems a bit much to me?

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TaxTim TaxTim says:
24 November 2015 at 15:43

Please make use of our SARS income tax calculator to see the correct amount of tax to be paid.


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Blog Categories


Small
Business
Tax Returns
Made Easy


TaxTim will help you:

 Do Your ITR14 Tax Return without a Tax Expert
 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.

Get started