Newsletter – February 2021

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Monthly Finance Brief  |  CFO360 Accountants
Monthly Finance Brief | CFO360 Accountants

Monthly Recap and Finance Brief is Back!

This year we’re committed to keeping our clients, newsletter subscribers, suppliers, and all South African business owners, and individuals informed on all important and useful information to keep running their business as efficiently as possible. And in general, some non-business/accounting related topics to keep things interesting.

We promise to keep it brief and most importantly useful for the average South African business owner.

Important Dates

Important Dates  |  CFO360 Accountants
Important Dates | CFO360 Accountants

For most South African businesses Feb marks the end of their financial year. For businesses turning a profit, this means submitting your provisional income tax return and making sure to round the year off with the appropriate tax calculations. However, businesses that are not profitable at year-end will have a non-payable amount to submit by the end of Feb 2021.

Individual taxpayers that are also provisional taxpayers have received an extension to submit their income tax return by the 15th of February and ensure payment is made by the 26th of Feb.

There are no public holidays in Feb 2021, but for those who are interested here are some interesting international days of recognition to celebrate.

Furthermore, we can expect the Minister of Finance to address the nation with his budget speech for the 2021 year. Start receiving vaccines for COVID in early Feb (hopefully). And have the world’s first “Social distancing Valentine’s day”.

Articles We Found Interesting

3 Financial Lessons From A Pandemic Year  |  CFO360 Accountants
3 Financial Lessons From A Pandemic Year | CFO360 Accountants

Business finances do not need to be stressful. Business itself produces enough stress of it’s own. As we reflect on the year that was, it is useful laying out the common sources of financial stress that Entrepreneurs face and how to deal with those.

1. Do you know where Your Business stands Right now?

The right foundation is important in achieving your future goals. Many Entrepreneurs are really good at making plans but are often a bit vague on their starting point and the details. All the best plans in the world start somewhere, and being specific on the starting point can make all the difference. READ MORE…

More Articles Below:

Referral Promotion

Refer A Friend  |  CFO360 Accountants
Refer A Friend | CFO360 Accountants

Refer any of your suppliers/customers or friends going forward for us to assist with their accounting/tax services and we can give you up to one month free. Provided they sign up as a monthly client and all T’s and C’s are met. Refer a Friend Today.

Signing Off

Now that Janu-worry is out of the way we can start focussing on setting ourselves up for a bright new financial year.

You can expect this Monthly finance brief in your inbox, yes you guessed it, monthly… And we also promise not to spam you in any form. If at any time you feel you would like to no longer receive these emails, we have an “unsubscribe” button located at the footer of the page.

All the best for a productive and efficient February!

More To Explore

Accounting

EMP501 – Employment Reconciliation Declaration

What Is It? It involves an employer submitting an accurate Employer Reconciliation Declaration (EMP501), Employee Tax Certificates [IRP5/IT3(a)s] to be issued and if applicable, a Tax Certificate Cancellation Declaration (EMP601). The three elements that must reconcile in order for your submission to be successful are the: Monthly Employer Declarations (EMP201s) submitted. Payments made (excluding penalty

Accounting

Receive Your Tax Number Via SMS

SARS has added a new web feature, that allows taxpayers to have their tax reference numbers sent to them via SMS. All the client needs to do is, click on this link: https://tools.sars.gov.za/soqs Fill out their personal details on the form. Select the “What’s My Tax Number? “option under the query type drop down. What

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