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What percentage tax we would pay on our income per annum for our business?

Posted 16 January 2015 under Tax Q&A


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We own a business and I need to know what percentage tax we would pay on our income per annum?

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TaxTim TaxTim says:
18 January 2015 at 20:15

Business tax is at 28% per annum on the taxable income unless you qualify as a small business for tax purposes in which case there are special rates.

Dee says:
19 January 2015 at 8:12

Thanks so much for the response. We are a small business, where would I find the special tax rates that are applicable to small businesses?

TaxTim TaxTim says:
19 January 2015 at 17:35

For the 2015 tax year the rates would be:

INCOME TAX: SMALL BUSINESS CORPORATIONS
Financial years ending on any date between 1 April 2014 and 31 March 2015
Taxable Income (R)
Rate of Tax (R)
0 - 70 700
0% of taxable income
70 701 - 365 000
7% of taxable income above 70 700
365 001 - 550 000
20 601 + 21% of taxable income above 365 000
550 001 and above
59 451 + 28% of the amount above 550 000


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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