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How often do I pay?

Would you consider moving from 6 monthly GST to two monthly GST to be able to use the AIM method?

We appreciate that businesses on 6 monthly GST have already chosen an option to minimise their tax obligations, therefore paying provisional tax through AIM is an increase. We are interested to hear whether AIM would be of use to you.

Would you consider moving from 6 monthly GST use the AIM method?

Comments

Ronise Paul
NO

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3 months ago
Michael
I'm quite happy with paying my GST plus provisional tax 6 monthly, I don't use accounting software and have no need or desire to. Paying 2 monthly would be a backward step for me as it was before using the simplified 6 monthly option. Use of money interest doesn't affect me as I use the Standard option for my provisional tax. For many small fish like myself the AIM option would be complicating things not making them simpler.

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2 months ago
Janine Clemons
I would consider this if I didn't feel the need (good software provision instead) to use a tax accountant at the end of the year.

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2 months ago
A Middleton
Yes.

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2 months ago
Miranda
Why does this need to be associated to the GST return? This will have a real impact on the cashflow if I have to pay two amounts of tax at the same time. If I were to choose this option which I'm not sure I would then I would rather calculate an amount that needed to be paid each month and pay it. This would fit in better to my cashflow then aligning it with my two monthly GST return. I'm not sure whats wrong with the current provisional tax system is it really that hard to pay your tax liability in 3 installments through the year. If this was really as big a problem as people say it is there is nothing to stop anyone from making more regular payments through the year or putting aside the money to ensure they can pay their tax whens its due. I guess its just a matter of what your priorities are.

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2 months ago
Daves
I don't agree on paying GST and Tax frequent as business people we need this extra amount of money to run the business, and to run a successful business you should forecast on what you need to pay in the near future, I think the provisional tax should be just paid yearly and not in instalments as this is a benefit to the tax system not for the business owner.

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2 months ago
stephanie
no

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  • agree3
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2 months ago
Sue Williams
It would certainly make it easier to remember - doing both at the same time makes perfect sense.

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2 months ago
Ross Williamson
No.

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  • agree2
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2 months ago
Raewyn
No, this just makes more unnecessary work. We prefer to stick to the twice yearly payments, its cleaner, tidier for our business and less time consuming over all.

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  • agree4
  • disagree1
2 months ago
Paul Clymer
no!

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  • agree3
  • disagree1
2 months ago
Lenard
NO!

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  • agree3
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2 months ago
Roger Simmons
Calculating and paying GST is always a chore and I would prefer to continue doing it on a six monthly basis. Having to shift focus from productive work to tax calculation is a nuisance that I would rather not have to do every few months. Having to do so would cost considerably more time over all than the six monthly routine.

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2 months ago
M Rawstron
From the point of view of gst registered self employed: if provisional tax was moved to bi monthly, it would be better if it was the alternate month to gst so you are not having to pay both at the same time. For example I would prefer if it was one month income tax, next month gst, next month income tax, next Month gst. This would be easier on the cash flow as well as it would spread out payments fairly evenly throughout the year. However, we are usually about a month behind on entering things into the accounting software,and many clients pay us on the 20th of the month after, so it would be helpful if there was a grace period of 1 to 2 months and flexible options for payment and adjustments.

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1 month ago
Rob de Bique
My sole trading arrangements are very simple but my earning patterns may vary from month to month year to year. I need the ability to smooth out the lows and highs and paying 6 monthly allows me to achieve this without the onerous exercise of calculating my obligations too frequently. I would like there to be a lower ceiling of argumentatively those earning less than 250k for whom furnishing prov/gst returns is 6 monthly. And get rid of the prov tax + 5% expectation

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1 month ago
Geoff
No

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  • agree1
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1 month ago
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