Difference between revisions of "South African Normal Tax Companies"
| Line 1: | Line 1: | ||
South African Normal Tax for Companies | South African Normal Tax for Companies | ||
| + | Ordinary companies are required to pay normal tax on their taxable income at a rate of 28% | ||
| + | |||
| + | A company qualifies for small business corporations tax if it meets the requirements of Section 12E(4)(a) of the Income Tax Act. | ||
| + | The rate is determined by reference to a sliding scale depending on the magnitude of the taxable income: | ||
| + | |||
{| | {| | ||
| − | ! style="text-align:left;"| | + | ! style="text-align:left;"| Taxable income |
! Rate | ! Rate | ||
| Line 8: | Line 13: | ||
|- | |- | ||
| − | | | + | |R0 to R75 000 |
| − | | | + | | 0% |
|- | |- | ||
| − | | | + | |R75 001 to R365 000 |
| − | | | + | | 7% of the amount greater than R75 000 |
|- | |- | ||
| + | |R365 001 to R550 000 | ||
| + | | R20 300 + 21% of the amount greater than R365 000 | ||
| + | |- | ||
| + | |Greater than R550 000 | ||
| + | |R59 150 + 28% of the amount greater than R550 000 | ||
| + | |- | ||
| + | |||
|} | |} | ||
Revision as of 19:34, 17 July 2018
South African Normal Tax for Companies Ordinary companies are required to pay normal tax on their taxable income at a rate of 28%
A company qualifies for small business corporations tax if it meets the requirements of Section 12E(4)(a) of the Income Tax Act. The rate is determined by reference to a sliding scale depending on the magnitude of the taxable income:
| Taxable income | Rate |
|---|---|
| R0 to R75 000 | 0% |
| R75 001 to R365 000 | 7% of the amount greater than R75 000 |
| R365 001 to R550 000 | R20 300 + 21% of the amount greater than R365 000 |
| Greater than R550 000 | R59 150 + 28% of the amount greater than R550 000 |
