Tax and Exchange Control Proposals: Budget 2008. PCOF: 27 February 2008 National Treasury & SARS. Tax policy objectives for 2008/09. Stimulate economy’s growth potential by reducing the tax rate on business & supporting industrial incentives
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PCOF: 27 February 2008
National Treasury & SARS
Turnover Marginal Rates (R)
R0 - R100 000 0%
R100 001 - R300 000 2% of each R1 above 100 000
R300 001 - R500 000 4 000 + 4% of the amount above 300 000
R500 001 - R750 000 12 000 + 5.5% of the amount above 500 000
R750 001 - R1 000 000 25 750 + 7.5% of the amount above 750 000
up to R7 million gross assets (not lifestyle busineeses; and
- Junior mining exploration companies with gross assets of up to R30 million.