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Calendars and important dates
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Final date for ratio option provisional tax applications
31 March

If you want to use the ratio option to calculate your provisional tax and have a 31 March balance date you need to apply to us by the end of March.

Under the ratio option:

  • Each instalment of provisional tax is based on the earnings shown in your most recent GST return - so tax payments are made at the same time the business is earning its income.
  • GST returns must be filed every month or two months.
  • Provisional tax is paid six times a year instead of the normal three times.
  • You can avoid use-of-money interest charges on short-payments of provisional tax, provided you have paid correctly calculated instalments by the due date.
  • There are significant cash flow advantages, particularly to businesses with earnings that fluctuate over the course of the year.

Find out more about the ratio option