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Small Business Corporation what you should know

Finance and Economy MVA TAX

Small Business Corporation (SBC) what you should know

Small Business
Small Business

 Complying with your tax obligations as a small business has been made a lot easier over the past few years.
Is my business Small Business Corporation (SBC)? Ask yourself questions which can assist you to determine whether your business is a Small Business Corporation or not.
  • Did your business make less than R20 million turnover in the previous financial year?
  • Do you employee 3 or more people who are not shareholders or connected to the shareholders of the business?

If you have answered to the above questions YES your business qualifies as a Small Business Corporation and is eligible for the TAX rates applicable to Small Business Corporations.

We can assist your Small Business Corporation with the following services:

  • Register for Income Tax
  • Register and do Efiling
  • Do your Income Tax as an Individual
  • Do your payroll taxes as a business
  • Record keeping of business and individual
  • Managing your Tax Compliance with SARS
  • Be the Tax Representative for all your Tax matters ( we are registered Tax Practitioners)
  • Do your Turn – over Tax
  • Vat return
  • and others

Contact us for more information

SBC tax rates for 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% of taxable income
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

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1 thought on “Small Business Corporation what you should know”

  1. Thank you for this great article. Very useful . Exactly what I needed I must get in touch with you as I really need assistance to change my business to small business option

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