Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get SARS Tax Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.
Try Tim Now

Micro Business

Posted 5 October 2015 under Tax Questions


Hello.
Is it me you're looking for?
I'll help you do your Tax Return with Confidence
Quickly, Easily
And Correctly
Do your own
Tax Online with Expert Help from Me, Step-by-Step.
LEARN MORE

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
Hannes says:
5 October 2015 at 11:43

The First R200 000 dividends paid during the year of assessment by the micro business is exempt from dividends tax. The Micro Business cannot deduct any business expenditure. What does this mean, can I then not deduct vehicle expenses, donations, etc..

This entry was posted in Tax Questions and tagged , , , , . Bookmark the permalink.

TaxTimTaxTim says:
5 October 2015 at 14:15

It means that turnover (receipts) is taxed on a sliding scale from 0% to 6%. No business expenditure can be deducted against the turnover to reduce the tax payable.

Dividends will be declared from the retained earnings of the company (i.e income less expenses less taxes)


Get SARS Tax Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Hello.
Is it me you're looking for?
I'll help you do your Tax Return with Confidence
Quickly, Easily
And Correctly
Do your own
Tax Online with Expert Help from Me, Step-by-Step.
LEARN MORE