Provisional tax payments are based on your business profits during a certain payment period. There are 3 ways to work out provisional tax.
If you use the accounting income method (AIM) your software will work out your provisional tax for you.
Your myIR account can show you:
- how much provisional tax is due
- any provisional tax payments that have been made
- imputation credit account or Māori authority credit information.
You can also estimate your provisional tax in myIR. A running balance is kept, which means that refunds can be issued.