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Is my business a Small Business Corporation?
Answer Tim's simple questions below to find out if you are an SBC according to SARS
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Is your business a registered company?
This mean you formally registered your business with CIPC.
Yes, my business is an SBC
You qualify for the special tax rates for a Small Business Corporation,
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No, my business is not an SBC
You do not meet the definition of an SBC and therefore all profits are taxed at a flat rate of 28%.
If you need help completing your business tax return, try TaxTim.