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IMPORTANT TAX DEADLINES TO REMEMBER
- 28 February 2022:
Companies, Close Corporations and Trusts with February year ends 2021 tax returns
- 28 February 2022:
2022 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 2022
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 28 February 2022.
Contact us to assist you with any calculations and preparation of dividend resolutions and dividend withholding tax returns.
Stock Counts (Where Applicable):
Companies: As part of our annual audit, we will perform spot-checks on your stock records subsequent to your annual stock count. This should take place shortly after year-end (not more than 2 working days). If we have not scheduled an appointment with you please contact us as soon as possible.
Close Corporations: According to law you have to perform a stock count if you carry trading stock. Please ensure that you have these stock count records available in the event of an inspection by SARS.
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 28 February 2022.
Bank account balances:
Remember to document and send us the closing balance of your bank account(s) as at 28 February 2022.
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