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Paragraph 5

 

5. The rate of tax referred to in section 2(1) of this Act to be levied in respect of the taxable income of any company which qualifies as a small business corporation as defined in section 12E of the Income Tax Act, 1962, in respect of any year of assessment ending during the period of 12 months ending on 31 March 2014 is set out in the table below:

 

Taxable income

Rate of tax

Not exceeding R67 111

0 per cent of taxable income

Exceeding R67 111 but not

exceeding R365 000

7 per cent of amount by which taxable income

exceeds R67 111

Exceeding R365 000 but not

exceeding R550 000

R20 852 plus 21 per cent of amount by which

taxable income exceeds R365 000

Exceeding R550 000

R59 702 plus 28 per cent of amount by which

taxable income exceeds R550 000