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New Zealand only
The Accounting Income Method (AIM) is a new way of calculating provisional tax for small businesses in New Zealand.
If your company file is online, AccountRight will automatically work out your provisional tax payments using the data you've entered throughout the period. Your due dates for AIM are generally the same as your GST due dates (monthly or two-monthly).
AccountRight businesses with ledgers starting in the middle of the reporting financial year cannot file an AIM statement of activity.
Before filing you'll be able to check it and make changes if you need to you. Once you're happy with the figures, you can submit it to Inland Revenue.
- In your online company file, go to the Accounts command centre and click GST & Provisional Tax. The GST & Provisional Tax window appears.
- In the File Online tab, click Get Started and a browser window will appear. If the Get Started button can't be clicked, ensure you're working on an online company file.
- Enter your MYOB account details (these are the same details you use to log in to the my.MYOB website)
- If prompted, enter your company file User ID and Password (these are the same details you use to sign on to your company file)
- To continue working on an existing return, click the date listed in the Period end column, then skip to step 7.
- To start a new AIM statement of acitivty:
- Click Add return, The Return details page appears.
- Enter your IRD/GST number and select AIM as the Return type
- Enter your GST output tax adjustment account and GST input tax adjustment account. Ensure these are not both the same account.
- Select your GST taxable period, Period end and Accounting basis.
- Select whether you want to include year-end adjustments in the return.
- If prompted (based on the Period end you've chosen), select Yes or No to the questions.
- Click Create. The AIM return page appears.
- The statement of activity appears, pre-filled with the amounts from your AccountRight company file.
- If you need to make any manual adjustments, do so in the Manual tax adjustments section of the statement (A1-A13)
- (April 2019 onwards) Enter the Shareholder’s IRD number for anyone who received a shareholder salary from your business (and hence paid provisional tax). In subsequent returns, you can select the Delete Shareholder option for any shareholders to be removed.
- When you're happy with the return, click Validate to check the figures.
You'll need to fix any errors before you can file the statement of activity.
- Once the statement is validated and you don't want to make any more changes, click Prepare to file.
- If any issues are found in the return, you'll be prompted to fix them before preparing to file. If no issues are found, the return will be ready for lodgement with Inland Revenue.
- When you're ready to file your AIM statement of activity with Inland Revenue, click File.
A pop-up will appear confirming the filing.
- Click Confirm, and you'll be taken to the IRD website.
- Enter your myIR user ID and password.
- Click Authorise to complete the filing.