What percentage tax we would pay on our income per annum for our business?
By Marc Sevitz · Updated
Business tax is at 28% per annum on the taxable income unless you qualify as a small business for tax purposes in which case there are special rates.
Thanks so much for the response. We are a small business, where would I find the special tax rates that are applicable to small businesses?
For the 2015 tax year the rates would be:
INCOME TAX: SMALL BUSINESS CORPORATIONS
Financial years ending on any date between 1 April 2014 and 31 March 2015
Taxable Income (R)
Rate of Tax (R)
0 – 70 700
0% of taxable income
70 701 – 365 000
7% of taxable income above 70 700
365 001 – 550 000
20 601 + 21% of taxable income above 365 000
550 001 and above
59 451 + 28% of the amount above 550 000
INCOME TAX: SMALL BUSINESS CORPORATIONS
Financial years ending on any date between 1 April 2014 and 31 March 2015
Taxable Income (R)
Rate of Tax (R)
0 – 70 700
0% of taxable income
70 701 – 365 000
7% of taxable income above 70 700
365 001 – 550 000
20 601 + 21% of taxable income above 365 000
550 001 and above
59 451 + 28% of the amount above 550 000