Page 21 - GA Maclachlan Tax Guide 2024

COMPANIES NORMAL TAXATION

Resident companies, non-resident companies/branch profits and personal
service providers

For years of assessment ending: Tax rate
Before 31 March 2023 28%
From 31 March 2023 27%

Assessed losses of companies
The balance of assessed loss of a company, carried forward from a previous
year of assessment, to be set-off against trading income of a current year of
assessment, will be limited to the greater of:
■ R1 million, and
■ 80% of taxable income before taking into account any previous assessed
loss�
Combined tax rate of resident company (as a percentage)

2023* 2024 2025
Taxable income 100�00 100�00 100�00
Less: Normal tax 28�00 27�00 27�00
Available for distribution 72�00 73�00 73�00
Less: Dividend 72�00 73�00 73�00
Less: Dividends tax 14�40 14�60 14�60
Total tax 42�40 41�60 41�60
Combined rate 42�40 41�60 41�60
Note: Dividends Tax is the liability of the shareholder, while the normal tax is a
company liability�
* For tax years ending on or after 31 March 2023 the tax rate is reduced to 27%

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