With regards to the current tax year, it's quite important for small businesses to note that some of them are entitled to two dispensations where they can benefit from a number of tax concessions. Accountants in Swartland, Accounting & Tax Malmesbury, Darling, Moorreesburg, Piketberg, Porterville, Riebeek-Kasteel, Riebeek-Wes and Yzerfontein.
If your business qualifies as a small business corporation (SBC), then you will only have to pay a reduced percentage of tax on scaled profits, contrary to the flat rate of 28% standard businesses are compelled to pay.
The good news for qualifying SBCs includes that they pay 0% tax on the first R57 000 profit made during the year. Following that, they will pay 10% tax on profit up to R300 000, with the standard rate of 28% only applicable on annual profits of more than R300 000.
Accountants in Paarl, Stellenbosch, Breede River and Witzenberg. Accounting & Tax Paarl, Accounting & Tax Stellenbosch, Accounting & Tax Breede River and Accounting & Tax Witzenberg.
