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TAX RATES: 28 FEBRUARY 2018 – COMPANIES
COMPANIES Normal Taxation Rate: 28% COMBINED TAX RATE OF COMPANY [table caption=”” width=”600″ colwidth=”250|350″ colalign=”left|center”] ,2018 Taxable Income,100.00 Less: Normal Tax,28.00 Available for distribution,72.00 Less:Dividend,72.00 Less:Dividends tax,14.40 Total tax,42.40 Combined rate,42.40% [/table] Note: Assumes all profits are declared as a dividend. Dividend Tax is a liability of the shareholder, while the normal tax is a…
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TAX RATES: 28 FEBRUARY 2018 – INDIVIDUALS
NATURAL PERSONS [table caption=”” width=”600″ colwidth=”200|400″ colalign=”center|center”] TAXABLE INCOME,RATES OF TAX R0 – R189 880,18% of each R1 R189 881 – R296 540,R34 178 + 26% of the amount above R189 880 R296 541 – R410 460,R61 910 + 31% of the amount above R296 540 R410 461 – R555 600,R97 225 + 36% of…
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TAX RATES: 28 FEBRUARY 2018 – TRUSTS
[table caption=”” width=”600″ colwidth=”125|350|125″ colalign=”left|center|center”] TYPE OF TRUST,INCOME TAX RATES,CAPITAL GAINS TAX INCLUSION RATE Normal Trust,45%,80% Special Trust,Same as those applicable to natural persons except that the rebates and interest exemptions do not apply.,40% [/table] Note: A special trust is a trust created solely for the benefit of someone who suffers from a disability…
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TAX RATES: 28 FEBRUARY 2018 – MICRO BUSINESSES
TURNOVER TAX FOR MICRO BUSINESSES Financial years ending on any date between 1 March 2017 and 28 February 2018. [table caption=”” width=”600″ colwidth=”250|350″ colalign=”center|center”] TAXABLE TURNOVER,RATES OF TAX R0 – R335 000,0% R335 001 – R500 000,1% of the amount above R335 000 R500 001 – R750 000,R1 650 + 2% of the amount above…
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CAPITAL GAINS TAX (CGT)
Persons subject to CGT CGT is payable on capital gains that arise after 1 October 2001 by the following persons: Residents are subject to CGT on all assets including overseas assets; Non residents are subject to CGT on immovable property or any right or interest in a property situated in South Africa and any asset…
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WITHHOLDING TAX
Royalties A withholding tax of 15% is payable when royalties from a South African source are paid to non-residents, subject to certain exemptions. Interest A withholding tax of 15% is payable when interest from a South African source are paid to non-residents, subject to certain exemptions.
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Tax Rates 2017
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