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An overview for small businesses on a new option for managing provisional tax.
For a long time, small businesses have wanted smarter tools to manage their provisional tax in a way that mirrors how their business actually works.
So in April 2018 we will introduce a new way for small businesses to manage their provisional tax using approved accounting software.
AIM – the Accounting Income Method – is a pay-as-you-go option for small businesses with turnover under $5million per year.
This webinar will explain how AIM will work, how it will benefit small businesses, and the types of businesses best suited for AIM. It will compare and contrast AIM with the three existing methods of provisional tax to help people decide if their business model would suit AIM. We’ll explain what to do if your business wants to opt into AIM for the 2018-19 tax year.
Attendees will gain a level of knowledge of the Accounting Income Method for calculating provisional tax so that they can understand the intent and benefits of AIM for small businesses, and can begin thinking about whether their business model would be suitable for AIM.
This webinar is suitable for businesses with a turnover of under $5million per annum that are already using accounting software, or will to start using accounting software so they can use AIM.
Glenn Richards, Account Manager, Inland Revenue
Penny Cooper, Account Manager, Inland Revenue
.75 CPD Hours