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Financial and Tax Year End
by Madeleine Coetzee - Friday, 15 February 2013, 03:39 PM
 

The 31st January has come and gone, and I sincerely hope that the income tax deadline for individuals and trusts was met with as little agitation as possible.  Looking forward, February is definitely a critical month for accountants.  Not only did we have the State of the Nation address on the 14 February 2013, but the Budget Speech a week later.  These two platforms communicate and signal to us where the priorities of Government lie, and hence the economic policy and tax law that will follow. 

At the same time, for most corporate entities, the financial and tax year end is fast approaching, being the 28 February 2013.  In the weeks leading up to this deadline, practitioners need to take careful consideration as to whether everything is set and agreed to in order to maximise the benefits of various laws.  An example of this would be whether or not your memorandum of incorporation supports the level of assurance your company desires (audit versus independent review).  This needs to be a matter of shareholder approved fact BEFORE year end. 

With that in mind, let’s hope we get what we want without too many surprises.

 


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