April, December, and August balance dates
March, January, May, and September
February, June, October
March, July, November
A new method for calculating your provisional tax came into effect 1 April 2018 and it could make paying your provisional tax a whole lot easier.
The Accounting Income Method, otherwise known as AIM calculates your provisional tax based on your profit for the year to date. Your payments are aligned with your GST return and are paid either monthly or two monthly. Think of it as PAYE for businesses.
AIM IS A SUITABLE OPTION FOR:
Businesses with unpredictable income
Businesses who want to keep on top of their tax during the year
WHAT ARE THE BENEFITS?
AM I ELIGIBLE?You can use AIM to calculate your provisional tax if:
Tax Calendar 2018 - 2019.
Now available to download.
Download our helpful income tax
Download our helpful AIM information
Provisional tax makes it easier to pay your income tax by spreading the payments over the year. If your end-of-year tax was more than $2,500 then you'll have to pay provisional tax the following year.
Provisional tax is a way of spreading your tax payments throughout the year. If you have income tax to pay of more than $2,500 from your last income tax year you'll most likely become a provisional tax payer.
Download the guide here.