Debtfree Issue 202402 - DB
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SA BUDGET 2024<br />
HOW YOUR SMALL BUSINESS TAX<br />
IS GOING TO BE AFFECTED<br />
Money is tight and the Government are looking to limit spending and<br />
increase income this year. While no new surprise taxes were added and<br />
while no changes were made to VAT there are some things small and<br />
micro business owners should be aware of.<br />
The tax brackets for small and micro businesses have not been<br />
adjusted higher to offset inflation and currency devaluation this year.<br />
This may result in you crossing from a lower tax bracket into a higher<br />
tax bracket.<br />
You can check the chart to the right to see what those different tax<br />
brackets are and what the tax in each bracket is.
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