Every year, at this time, we experience the nasty results of the “follow-up” problem.

What is the “follow-up problem”?

It’s a problem caused mainly by lazy people and procrastinators.

For example, during the year, accountants ask their clients for the information they require to complete their Financial Statements and Tax Returns. Unfortunately, a small number of clients either ignore these requests or forget to send them.

Some accountants will follow up several times, although it’s not their duty. In my opinion, one reminder is adequate!

The negative aspect of procrastinating with financial information is that you may end up in big trouble with SARS.

Another consequence is that you are not on the Wealth Mastery System if your financials and tax returns are not ALWAYS UP TO DATE. You will not qualify for financing and refinancing!

Filing Season for Individuals, Trusts and Companies

The following is an extract from the SARS website:

Income tax return filing dates:
The dates for the 2024 Filing Season are:

• Auto-assessment notices: 1 July 2024 to 14 July 2024
• Individual taxpayers (non-provisional): 15 July 2024 to 21 October 2024
• Provisional taxpayers: 15 July 2024 to 20 January 2025
• Trusts: 16 September 2024 to 20 January 2025

Filing tax return SA Companies:
Annual income tax returns must be submitted within one year from the end of the company’s tax year.

Call to Action

Make sure you are not missing any of the dates for the 2024 Filing Season. If you’re not sure, contact your accountant per email and make sure you provided all the information they require. Take note, I said “per email” and not by phone, because you need written proof!

Destinata Accountants work for you, but you must ensure they do the job you are paying them for. If you’re unhappy with them, contact [email protected] before the pawpaw hits the fan!

Regards,
Coert