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Overview
What is AIM?
AIM on a page
Benefits
Pay as you go
Accounting software
Business integration
Making payments more frequently
Working with software providers
Outline
How will AIM help me?
Eligibility for AIM
Changes to software
Businesses that don't use software
Making payments more often
How often do I pay?
Calculating tax adjustments
Use of money interest and penalties
Submitting information to IR
Refunds in AIM
Possible integrity issues
Detailed Analysis
Large corporates using AIM
Enhancements to software programs
Non-software users
Calculating the tax adjustments
Interim IR10 data
Potential issues
Relationship with tax advisor
Using this website
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Provisional Tax Accounting Income Method
Learn more / Tell us
Overview
What is AIM?
AIM on a page
General comments
Benefits
Pay as you go
accounting software
Do you use accounting software?
Business Integration
Do you want your software to help with tax?
Is it okay for Inland Revenue to work with third parties?
Making payments more frequently
Working with software providers
Outline
How will AIM help me?
Eligibility for AIM
Use of AIM by small and medium businesses. (Less than $5m)
Should anyone be able to use AIM?
Changes to software
What changes would you like to see in your software to help you work out your provisional tax payments?
Businesses that don't use software
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?
Making payments more often
What will paying provisional tax more often be like?
How often do I pay?
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?
Calculating tax adjustments
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?
use of money interest and penalties
Submitting information to IR
Are you okay with sending Inland Revenue cumulative business data throughout the year?
Refunds in AIM
Would you take a refund during the year if available?
How would you like to use your refund?
Possible Integrity issues
Any other concerns?
How could income be loaded into the latter part of the year?
Detailed Analysis
Large corporates using AIM
Can AIM work with complex tax adjustments?
Would larger taxpayers want to use AIM?
Does commonality of software matter?
Enhancements to software programs
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?
Non software users
What tax adjustments should a manual system do?
Should AIM be available to those who don’t use software?
Calculating the tax adjustments
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
Interim IR10 data
Are there other data points you think should be included in an Interim IR10?
Potential issues
Are these measures within AIM sufficient?
Would paying tax as agent be useful if integrated within AIM?
Relationship with tax advisor
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?
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