The fields in the provisional basis section of the tax notice changes depending on the provisional tax option chosen. The provisional tax option selected depends on the provisional tax option selected in the client's tax notice settings before the tax notice was created.

If you need to change the provisional tax option for the current period, you can do so here.

Provisional basis

Standard

If you're using the standard option and the tax return for the last financial year hasn't been filed yet, the basis year will default to the year before. You can, however, change the basis year back to the last financial year.

Estimation

if you're using Estimation, you can enter your client's estimated taxable income for the year and we'll calculate their tax on taxable income.

AIM

Ratio

Payable amount

This shows all payments and transfers made to Inland Revenue up until the instalment's due date. It includes transfers in and transfers out. This helps you offset any underpayments or overpayments from previous instalments.

For example, let's say you owed $2000.00 during the last tax notice period, but only paid $1900. In this tax notice period you owe $2000, so you’ll owe $2100 to make up for the $100 that you still owe the IRD.

Tax pooling

To apply tax pooling to a tax notice, open the provisional tax instalment and select Yes to the question Will this instalment be tax pooled?

If there's a transaction for the expected provisional tax payment in Data reconciliation, we'll reverse it, so the provisional tax payable won't carry forward to the next tax notice.

Voluntary adjustment

You can have up to three voluntary adjustments.

To add a voluntary adjustment to a tax notice, answer Yes to the question Do you want to make a voluntary payment?. You must then select a Tax type and enter the voluntary adjustment amount. To add an additional voluntary adjustment, click Add another voluntary adjustment.

You can enter negative voluntary adjustments by inputting a negative value.