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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. |
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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? |
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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 |
