Small Business Income Tax Calculator
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Small business income tax calculator. We have the sars sbc tax rates tables built in no need to look them up. The small business income tax offset can reduce the tax payable on your small business income by up to 1000 per year. 2 it s super easy to calculate this tax. Your employee will then pay the other 6 2.
All employees must pay social security taxes on income below 132 900 if your income is above 132 900 you ll pay taxes up to that amount. This calculator works out the amount you need to enter at net small business income on your tax return. We then calculate your small business income tax offset using this amount. What this calculator does.
For example if you have a business that earns 200 in revenue and has 75 in expenses then your taxable income is 125. Small business income tax offset calculator.