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

Budget Speech South Africa 2024 | Highlights & Download #Budget2024

SARS Has Implemented A New System For Estimating VAT Assessments

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