Learn more / Tell us

Overview

• General comments

Benefits

• Do you use accounting software?

• Do you want your software to help with tax?
• Is it okay for Inland Revenue to work with third parties?

Outline

• Use of AIM by small and medium businesses. (Less than $5m)
• Should anyone be able to use AIM?

• What changes would you like to see in your software to help you work out your provisional tax payments?

• If the option to make payments under AIM was available for those without an accounting software package, what records and processes should Inland Revenue expect to see?

• What will paying provisional tax more often be like?

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

• What changes would you like to see to your software?
• Can you do tax adjustments throughout the year?
• Will having a tax calculation in your accounting software program create problems?

• Are you okay with sending Inland Revenue cumulative business data throughout the year?

• Would you take a refund during the year if available?
• How would you like to use your refund?

• Any other concerns?
• How could income be loaded into the latter part of the year?

Detailed Analysis

• Can AIM work with complex tax adjustments?
• Would larger taxpayers want to use AIM?
• Does commonality of software matter?

• Let us know what you think of these specifications
• What changes to your software will you need?
• Can this capability be built?
• How will contacting your advisor throughout the year work for you?

• What tax adjustments should a manual system do?
• Should AIM be available to those who don’t use software?

• Can the right tax adjustments be made?
• Trading stock
• Repairs and Maintenance
• Interest
• Debtors
• Prepayments
• Home office
• Interest charged on current accounts
• Private use adjustments
• Treatment of Accruals during the year
• Depreciation and amortisation
• Creditors
• Bad debts

• Are there other data points you think should be included in an Interim IR10?

• Are these measures within AIM sufficient?
• Would paying tax as agent be useful if integrated within AIM?

• Will AIM change the way you work with your accountant?
• Would being on top of your tax matters during the year make it easier at year end?
• How else can we make this work?