Difference between revisions of "2008-SANT-Companies"
(Created page with " 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 co...") |
(2008 South African Normal Tax for companies) |
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| − | + | For years of assessment ending on any date between 1 April 2007 and 31 March 2008 | |
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 | + | Ordinary companies are required to pay normal tax on their taxable income at a rate of 29% |
A company qualifies for small business corporations tax if it meets the requirements of Section 12E(4)(a) of the Income Tax Act. | A company qualifies for small business corporations tax if it meets the requirements of Section 12E(4)(a) of the Income Tax Act. | ||
| Line 16: | Line 16: | ||
|- | |- | ||
| − | |R0 to | + | |R0 to R43 000: |
| R0 | | R0 | ||
|- | |- | ||
| − | | | + | |R43 001 to R300 000: |
| − | | | + | | 10% of the amount greater than R43 000 |
|- | |- | ||
| − | | | + | |R300 0001 and above: |
| − | | | + | | 29% of the amount greater than R300 001 |
|- | |- | ||
|Greater than R550 000: | |Greater than R550 000: | ||
Latest revision as of 14:00, 21 February 2020
For years of assessment ending on any date between 1 April 2007 and 31 March 2008
South African Normal Tax for Companies Ordinary companies are required to pay normal tax on their taxable income at a rate of 29%
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 | Tax |
|---|---|
| R0 to R43 000: | R0 |
| R43 001 to R300 000: | 10% of the amount greater than R43 000 |
| R300 0001 and above: | 29% of the amount greater than R300 001 |
| Greater than R550 000: | R59 150 + 28% of the amount greater than R550 000 |
