“Today, it takes more brains and effort to make out the income tax form than it does to make the income.” (Alfred E. Neuman, Mad Magazine Mascot)
Provisional tax is among the most confusing aspects of the tax regime – and it’s also the most heavily penalised. There are numerous declarations and payments overlapping throughout each year, not to mention a raft of rules and exceptions.
“The difference between successful people and really successful people is that really successful people say no to almost everything.” (Warren Buffett)
In a world where constant activity is seen as progress, the real high-performing leaders are doing something different. These entrepreneurs, CEOs and founders understand that not every signal deserves a response, not every problem requires an immediate solution, and not every opportunity is worth pursuing. In volatile markets, noisy feedback loops and emotionally charged leadership environments, doing nothing can be the hardest and smartest move you’ll ever make. Here’s why.
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"The avoidance of taxes is the only intellectual pursuit that still carries any reward. (John Maynard Keynes)
1. Boost your retirement savings
Contributing to a Retirement Annuity (RA) before 28 February can reduce your taxable income and grow your long-term wealth. If you haven’t maximised your annual tax deduction for contributions to retirement funds, this is a good moment to review it. Got any questions – ask us.
“Any intelligent fool can make things bigger and more complex. It takes a touch of genius, and a lot of courage, to move in the opposite direction.” (Statistician and economist, E.F. Schumacher)
Diversification makes intuitive sense. When one revenue stream falters, another should compensate. When one market cools, another heats up. In theory, it’s prudent. In reality, however, as businesses accumulate products, geographies, customer segments and internal processes, decision-making slows and execution weakens. What began as risk management turns into managerial overload. The uncomfortable truth is that sometimes executing fewer things extraordinarily well, for longer than competitors can tolerate, is sometimes the path to true success.
- 06 February – PAYE submissions and payments
- 25 February – VAT manual submissions and payments
- 26 February – Excise duty payments
- 27 February – VAT electronic submissions and payments, CIT Provisional Tax payments and PIT Provisional Tax payments where applicable.
“If you can’t measure it, you can’t improve it.” (Peter F. Drucker, Business Management Guru)
Entrepreneurs are hardwired to look forward, and chase the next win. This constant looking ahead can create a costly strategic blind spot. When you rush past December’s data to write January’s plan, you run the risk of missing the critical lessons already paid for in time, money, and stress.
“The outlook is clear: resilience and innovation will define Africa’s growth story.” (Ignatius Sehoole, CEO of KPMG South Africa)
“A continent brimming with optimism.” This is how KPMG’s 11th Africa CEO Outlook describes Africa.
Among the African CEOs surveyed, 63% expressed optimism about their country’s growth prospects and 78% expressed strong business confidence. Over the short term, 98% expect business expansion and 86% are likely to pursue acquisitions.
“People don’t mind price increases as much as they mind surprises.” (Robert Cialdini, Psychologist and Business Author)
Costs go up and so do prices. And yet most businesses raise prices later than they should. A global study by Simon-Kucher found that less than a quarter of companies adjust prices multiple times a year as needed, with almost 30% discussing price changes only once annually, and 26% waiting for new customer tenders or contract expirations.
