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Only pay provisional tax when you’re making a profit

Woman on laptop smiling. Man in workshop smiling. Words in teal box to the right say "Only pay provisional tax when you're making a profit".

Now’s the time to check it's right for you - get set up to use AIM for the upcoming tax year

Woman on laptop smiling. Man in workshop smiling. Words in teal box to the right say "Only pay provisional tax when you're making a profit".

Now’s the time to check it's right for you - get set up to use AIM for the upcoming tax year

The accounting income method (AIM)

From April 2018 managing provisional tax could get easier for your business.

AIM is a new option through software with MYOB, Reckon and Xero.

It's a cash flow game changer - if you don't make a profit you won't have to pay provisional tax.
 

AIM in three easy steps

  1. Check if it's right for you
  1. Get advice
  • We recommend that you talk it over with your tax professional or software provider.
  1. Get AIM-capable software
  • MYOB, Reckon and Xero will have AIM functionality for the financial year starting 1 April 2018.
  • Check your software and contact your software provider for more details.
  • If you want to start using AIM in the current tax year, get set up in your accounting software and file before:
    • 28 May 2018 (monthly filers), or
    • 28 June 2018 (two-monthly or six-monthly filers).