Should I do a tax return if my business revenue was less than R 350,000.00 for the year?
By Marc Sevitz · Updated
Hi guys,
I've got a sideline business (CC), and our revenue was WAY less than R 350,000. 00. Should I still process a tax return?
I've got a sideline business (CC), and our revenue was WAY less than R 350,000. 00. Should I still process a tax return?
Yes, all company profits are taxed at 28% unless the entity is a Small Business Corporation and then profits are taxed on a sliding scale.
The SARS communication on the R350,000 threshold refers to individual taxpayers and not companies.
Reasons you need to file your tax return
The SARS communication on the R350,000 threshold refers to individual taxpayers and not companies.
Reasons you need to file your tax return