Well, your turnover tax assessment would be R27500.00.
Income tax on R170 000.00 would be R25680.00 based on the 2009 tax scale, so I expect it will be a touch less for the 2010 tax year.
(anyone got a link to the marginal rates for 2010?).
Well, your turnover tax assessment would be R27500.00.
Income tax on R170 000.00 would be R25680.00 based on the 2009 tax scale, so I expect it will be a touch less for the 2010 tax year.
(anyone got a link to the marginal rates for 2010?).
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Pap_sak (09-Mar-09)
Hi
The effective tax rate of an individual is a lot higher. So i would say if you qualify for the turnover tax rather do that because you end up paying for the 2010 tax year with a profit of R170 000, R23,504 as an individual and R700 if you choose the turnover tax system. But rather consult with your accountant or bookkeeper before you decide to make this choice.
Based on a turnover of R750k?Originally Posted by geraldenek
I think the big winners with turnover tax will be the service industries. Professionals must be spitting mad that they're excluded from qualifying.
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