SA Budget 2018 – Tax rates for Companies, trusts and Small Business Corporations (SBC)

Companies, trusts and Small Business Corporations (SBC)

Companies – no changes from last year

?Financial years ending on any date between ?Rate of Tax
??1 April 2018 – 31 March 2019 ?28%
?1 April 2017 – 31 March 2018 ?28%
?1 April 2016 – 31 March 2017 ??28%
?1 April 2015 – 31 March 2016 ?28%
?1 April 2014 – 31 March 2015 ?28%


Top Tip:
Personal Service Providers are no longer taxed separately and are taxed as a company or as a Trust.

The following rates of tax apply for financial years ending on any date between 1 April 2011 – 31 March 2012 for:

?Type ?Rate of tax
Personal service provider companies? ?33%
?Foreign resident companies which earn income from a source in South Africa ?33%

 

Trusts (other than special trusts) – no changes from last year

Year of assessment ?Rate of Tax
??1 March 2018 – 28 Febrary 2019 ?45%
?1 March 2017 – 28 Febrary 2018 ?45%
??1 March 2016 – 28 February 2017 ?41%
?1 March 2015 – 29 February 2016 ?41%
?1 March 2014 – 28 February 2015 40%

Small Business Corporations (SBC) – see changes from last year

Financial years ending on any date between 1 April 2018 and 31 March 2019:

Taxable Income (R)? Rate of Tax (R)?
0 – 78 150? ?0% of taxable income
?78 151 – 365 000 ?7% of taxable income above 78 150
?365 001 – 550 000 ?20 080 + 21% of taxable income above 365 000
?550 001 and above ?58 930 + 28% of the amount above 550 000

Financial years ending on any date between 1 April 2017 and 31 March 2018:

Taxable income (R) ?Rate of tax (R)
0 – 75 750 0%
75 751 – 365 000 7% of taxable income above 75 750
?365 001 – 550 000 20 248 + 21% of taxable income above 365 000
?550 001 and above 59 098 + 28% of taxable income above 550 000

 

Financial years ending on any date between 1 April 2016 and 31 March 2017:

Taxable income (R) ?Rate of tax (R)
0 – 75 000 0%
?75 001 – 365 000 7% of taxable income above 75 000
?365 001 – 550 000 20 300 + 21% of taxable income above 365 000
?550 001 and above 59 150 + 28% of taxable income above 550 000

 

Financial years ending on any date between 1 April 2015 and 31 March 2016:

Taxable income (R) ?Rate of tax (R)
?0 – 73 650 ?0%
?73 651 – 365 000 ?7% of the amount above 73 650
?365 001 – 550 000 ?20 395 + 21% of the amount above 365 000
?550 001 and above ?59 245 + 28% of the amount above 550 000

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%
?70 701 – 365 000 ?7% of the amount above 70 700
?365 001 – 550 000 ?20 601 + 21% of the amount above 365 000
?550 001 and above ?59 451 + 28% of the amount above 550 000

 

 

Last Updated: 24/02/2018