South African businesses have survived some incredibly trying and uncertain years, marked by lockdowns and blackouts, rising interest rates and tight economic conditions. While businesses have little control over these external challenges, what is under every business owner’s control is how the company approaches 2024. 

You can exercise this control in three simple steps: Assessing the past, measuring the present, and planning for the future – approaching the year ahead with clarity and a solid plan to make 20K24 your company’s best year yet. 

 


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22A Church Street
DURBANVILLE
7550

 Tel: 021 970 4600
Fax:  021 975 6780
Email: info@sdkca.co.za
 
Website:  www.sdkca.co.za 
 

 

 

IMPORTANT TAX DEADLINES TO REMEMBER

  • 24 January 2024:Individual and Trust provisional taxpayers 2023 tax returns
  • 29 February 2024:Companies, Close Corporations and Trusts with February year ends 2024 tax returns
  • 29 February 2024:2024 second provisional tax estimates and payments for provisional individual taxpayers, Companies, Close Corporations and Trusts with February year ends

 

IMPORTANT YEAR END CONSIDERATIONS TO REMEMBER – 28 FEBRUARY 2024

We would like to remind you of the following aspects relating to February year-end entities and all individuals.  

Companies and Close Corporations:

Dividend Declarations:

Consider whether a year-end dividend should be declared as these dividends should be declared by 29 February 2024.

Contact us to assist you with any calculations and preparation of dividend resolutions and dividend withholding tax returns.

Individuals:

Travel allowance:

Employees in receipt of a travel allowance must maintain a logbook of business and private travel. No deduction for income tax purposes will be considered without a valid logbook. A logbook must include date of travel, destination, reason for travel and the business kilometres travelled.

Remember to record your closing kilometres (ODO reading) as at 29 February 2024.

Bank account balances:

Remember to document and send us the closing balance of your bank account(s) as at 29 February 2024.

     
 
January 2024 NEWSLETTER
2024: Best Year Yet for Your Business?

South African businesses have survived some incredibly trying and uncertain years, marked by lockdowns and blackouts, rising interest rates and tight economic conditions. While businesses have little control over these external challenges, what is under every business owner’s control is how the company approaches 2024. 

You can exercise this control in three simple steps: Assessing the past, measuring the present, and planning for the future – approaching the year ahead with clarity and a solid plan to make 20K24 your company’s best year yet. 

read more
How to Survive Ongoing High Interest Rates in 2024
ArticleImage The South African Reserve Bank recently held interest rates for the third time in a row, keeping the repo rate at 8.25%, with the prime lending rate at 11.75%. The rates therefore remain high and show no signs of coming down.

High interest rates can affect almost every aspect of your business, from sales to expenses. Here are some tips to help you survive.
   
read more
How to Achieve Tax Compliance Throughout 2024
ArticleImage

Tax compliance is accepted as an indicator of how well the affairs of a business or individual are managed and their good standing in terms of their legal obligations. It also saves a great deal of time and money.

Achieving and maintaining tax compliance in 2024 will be more challenging than ever before, as SARS continues to step up both its compliance requirements and the prosecution of non-compliant taxpayers. This makes it essential to rely on the expertise of your accountant, which is also recommended by SARS. 

   
read more
Why January is the Perfect Time to Start a Business
ArticleImage

Thanks to New Year's resolutions, January has always been a popular time to start a new business, but resolutions aren’t the only reason it's a favoured time of the year for new endeavours.

January offers a wealth of benefits that make it ideal as a founding month. Hopefully, the ones we point out here will inspire you to launch your own business in 2024.

   
read more
Your Tax Deadlines for January 2024
ArticleImage
  • 05 January - Monthly Pay-As-You-Earn (PAYE) submissions and payments

  • 24 January – End of Filing Season for Provisional taxpayers

  • 24 January – End of Trusts Filing Season for taxpayers liable for provisional tax

  • 30 January - Excise Duty payments

  • 31 January - Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable.

   

ArticleImage
 
Have a Healthy, 
Happy and Successful 
2024!
   

Disclaimer

The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.


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