2017 Tax returns, VAT and PAYE submission due dates and deadlines

communication important datesWe’ve condensed all the 2017 Tax returns, VAT and PAYE submission due dates and deadlines to watch out for, here below.


July 2017

07-07-2017 – PAYE submissions and payments

25-07-2017 – VAT manual submissions and payments

28-07-2017 – Excise Duty payments

31-07-2017 – VAT electronic submissions and payments

31-07-2017 – CIT Provisional Tax Payments


August 2017

07-08-2017 – PAYE submissions and payments

25-08-2017 – VAT manual submissions and payments

30-08-2017 – Excise Duty payments

31-08-2017 – VAT electronic submissions and payments

31-08-2017 – PIT Provisional Tax Payments

31-08-2017 – CIT Provisional Tax Payments


September 2017

07-09-2017 – PAYE submissions and payments

22-09-2017 – VAT manual submissions and payments

28-09-2017 – Excise Duty payments

29-09-2017 – VAT electronic submissions and payments

29-09-2017 – PIT top-up Provisional Tax Payments

29-09-2017 – CIT Provisional Tax Payments


October 2017

06-10-2017 – PAYE submissions and payments

25-10-2017 – VAT manual submissions and payments

30-10-2017 – Excise Duty payments

31-10-2017 – VAT electronic submissions and payments

31-10-2017 – CIT Provisional Tax Payments


November 2017

07-11-2017 – PAYE submissions and payments

24-11-2017 – VAT manual submissions and payments

29-11-2017 – Excise Duty payments

30-11-2017 – VAT electronic submissions and payments

30-11-2017 – CIT Provisional Tax Payments


December 2017

07-12-2017 – PAYE submissions and payments

22-12-2017 – VAT manual submissions and payments

28-12-2017 – Excise Duty payments

29-12-2017 – VAT electronic submissions and payments

29-12-2017 – CIT Provisional Tax Payments


Dates Passed:

May 2017

30-05-2017 – Excise Duty payments

31-05-2017 – VAT electronic submissions and payments

31-05-2017 – CIT Provisional Tax Payments


June 2017

07-06-2017 – PAYE submissions and payments

23-06-2017 – VAT manual submissions and payments

29-06-2017 – Excise Duty payments

30-06-2017 – VAT electronic submissions and payments

30-06-2017 – CIT Provisional Tax Payments


You can also download the full list for 2017 here.

Betty Bookkeeper explains a fringe benefit vs. a marketing expense

Hi Betty

1. If an employee drives a company car that is branded with the company logo, will it still be seen as a fringe benefit for tax purposes or can it be seen as a marketing expense?

If the branded company car is seen as a fringe benefit:

2. If the owner of the business drives the branded vehicle but does not get any salary, is it still a fringe benefit?

3. If a random friend of the owner also drives around with one of the vehicles for marketing purposes, does that become a fringe benefit for the friend not employed?

Thanks for the help!



Hi Charlene

1. The vehicle will not be seen as a marketing expense, possibly only the cost of the branding.
2. If the owner does not receive a salary, I assume you are issuing dividends to him. If this is the case the vehicle is not considered a fringe benefit. Instead it will be accounted for in terms of PPE.
3. The friend is not considered to have received a fringe benefit.

I hope this helps


Don’t forget that I’m here to answer your questions about the ICBA, or just queries about your accounting at work. All you have to do is email me with a copy of your ICBA membership certificate. Not yet a member? Send in your application form!

10 Big Pension Mistakes to Avoid

Article Source: Fin24

10 pension mistakes to avoid

You could be on the wrong path in your retirement planning and make mistakes in pension matters. Rita Cool, a Certified Financial Planner at Alexander Forbes Financial Planning Consultants, shares the ten she regards as the biggest mistakes people make in this area.

1.) Starting too late

When you are young you think that you have a lifetime to save for retirement, but the best age to start saving for retirement is 25. You should start with 15% of your income and put it into a fixed savings account which the bank can invest on your behalf.

The sooner you start, the easier it is to reach your targets because of the power of compound growth. You can save a smaller amount each month to get you to the same target over time.

2.) Underestimating how much retirement will cost

It is important to have a budget so that you can see how much money you need each month.

This will help you see how much income you need after retirement. Don’t think you will sit at home after retirement so you only need food and electricity.

Use your bank statement to assign your monthly expenses into groups. Use today’s values in your calculations; inflation can be taken into account for projections. Once you know how much you need, you can calculate how much you should save to get that income. There are various free apps and online programs that can help with this, like Pastel My Money.

3.) Not paying off debt before retirement

Debt is the biggest killer of retirement plans. Do not accrue clothing account debt and credit card debt if you can help it. The number 1 rule for saving is: If you can’t pay cash for it, don’t buy it! Besides a home investment, there is very little benefit in going into debt for material possessions.

At retirement, you are allowed to take all your money in cash from a provident fund and up to one third in cash from a pension fund. The first R500 000 you take in cash from all your retirement products is not taxed. If you have not paid off all your debts by the time you retire, you need to settle the debt from this cash portion.

You might also not have enough cash available to pay all the debt and then you can lose that asset if your monthly income is not enough to pay off the debt monthly.

The more debt you need to pay, the less you have to provide you an income. Most debt interest is higher than interest received on investments so don’t invest if you still have debt, with the exception of house and car debt.

4.) Not reviewing your investments

As your targets and situation change, so should your financial plan. You don’t have to check the value daily, but at least annually look at the statement and look to see if you are on target or not. Compare the returns you get at different banks and financial institutions. Capitec recently won ‘Best bank in the world’ based on their fair interest rates and return on investments.

5.) Thinking your employer fund savings will be sufficient

In the majority of cases, you need to save extra, especially if you started contributing later in life or if you had a break in contributions.

Most employer funds allow additional voluntary contributions which are cheaper than saving in your own capacity. You can contribute up to 27.5% of your total taxable income annually, with a maximum of R350 000 and get the tax back on the contribution.

Prevent yourself from being part of the 90% of people in SA who will need help from either your family, the community or the state.

6.) Not making use of the investment structures available

Choose the product to suit your needs.

Each investment product has benefits and negatives. Retirement annuity contributions have tax benefits, but are not accessible before retirement.

Unit trusts do not give you tax savings but are accessible. A Tax Free Savings Account is accessible and has tax benefits on the growth, but will take a long time to show the benefits. By diversifying your savings, you can structure your income more tax effectively after retirement.

7.) Cashing in savings before retirement

Don’t take your cash from your employer’s fund every time you change jobs. You will have to start your savings from scratch and will need to save more and more each time to get you to the same target.

There is tax on the cash you take on withdrawal, which reduces your potential tax-free portion at retirement as well.

8.) Not knowing what products are available at retirement

You can choose a fixed annuity or a living annuity after retirement.

A fixed annuity gives you a guaranteed income for life, but no capital is available to beneficiaries when you have passed away.

In a living annuity you can leave a legacy, but you are responsible for looking after your investments and spending and you can easily run out of income after a few years. Choose your investment portfolios to match your product.

9.) Investing in the wrong portfolios

Don’t be swayed by emotions – especially when markets are not performing well or there is a lot of uncertainty around.

If you are saving for a long-term goa,l don’t make decisions based on short-term volatility. Don’t try to time the market.

Don’t be too conservative over a long term because if you are afraid of volatility, you will not achieve your targets.

10.) Getting advice from friends

You can get advice from your friends on what hairstyle to get, but would you ask them to cut your hair? So why take financial advice from someone who is not a professional?

Financial legislation changes often and you could be basing your decisions on outdated information.