AIM Provisional Tax
This is a ‘cash flow’ game changer for paying Provisional Tax and is aimed at making the payments more accurate i.e. if you don’t make a profit you won’t need to pay provisional tax.
This is available to tax payers that:
- Are using an AIM-capable software system like XERO or MYOB
- Anyone with less than a $5m turnover, with some exceptions
- Have not been excluded from using AIM.
You pay provisional tax two-monthly, in time with your GST & it is worked out on the taxable profit for that period providing a more accurate result.
If you opt in:
- It just means you are committed to the scheme for the full year.
- First AIM payment 28th June, so you need to opt in now.
- This eliminates the 3 sporadic Provisional Tax payments throughout the year & your wash up of terminal should be minimal.
If you feel you would like to take this opportunity please contact us now.