Resident companies, non-resident companies/branch profits and personal service providers
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.
The above limitation does not apply to companies in liquidation or deregistration.
Combined tax rate of resident company (as a percentage)
Note: Dividends Tax is the liability of the shareholder, while the normal tax is a company liability.