Companies, Trusts and Small Business Corporations (SBC)

November 3, 2021

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Companies

– no changes from last year

Financial years ending on any date between	Rate of Tax
1 April 2021 – 31 March 2022	28%
1 April 2020 – 31 March 2021	28%
1 April 2019 – 31 March 2020	28%
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 2021 – 28 February 2022	45%
1 March 2020 – 28 February 2021	45%
1 March 2019 – 29 February 2020	45%
1 March 2018 – 28 February 2019	45%
1 March 2017 – 28 February 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 2021 and 31 March 2022:

Taxable Income (R)	Rate of Tax (R)
1 – 87 300	0% of taxable income
87 301 – 365 000	7% of taxable income above 87 300
365 001 – 550 000	19 439 + 21% of taxable income above 365 000
550 001 and above	58 289 + 28% of the amount above 550 000

Financial years ending on any date between 1 April 2020 and 31 March 2021:

Taxable Income (R)	Rate of Tax (R)
1 – 83 100	0% of taxable income
83 101 – 365 000	7% of taxable income above 83 100
365 001 – 550 000	19 733 + 21% of taxable income above 365 000
550 001 and above	58 583 + 28% of the amount above 550 000

Financial years ending on any date between 1 April 2019 and 31 March 2020:

Taxable Income (R)	Rate of Tax (R)
0 – 79 000	0% of taxable income
79 001 – 365 000	7% of taxable income above 79 000
365 001 – 550 000	20 020 + 21% of taxable income above 365 000
550 001 and above	58 870 + 28% of the amount above 550 000

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Companies, Trusts and Small Business Corporations (SBC)

Share This Post

Companies

Trusts (other than special trusts)

Small Business Corporations (SBC)

More To Explore

Companies Now Have New Reporting Obligations For “Beneficial Ownership”

Trust and PBO Reporting Requirements Are Now Official

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