DET A1
Issued
10 Oct 2017

Classes of taxpayers that must not use AIM

Determination A1 details the classes of taxpayers that must not use the Accounting Income Method (AIM) and applies 2018-19 onwards.

Scope

  1. Under the Accounting Income Method (AIM), taxpayers may calculate their provisional tax payments by using accounting software if they do not belong to a class of taxpayers that must not use the AIM method in a determination made under section 91AAY of the Tax Administration Act 1994.

  2. This determination details the classes of taxpayers that must not use the AIM method.

Application

This determination applies for the 2018-19 and later income years.

Classes of taxpayers that must not use the AIM method

The following classes of taxpayers must not use the AIM method for an income year:

  • trustees and beneficiaries of a trust:
  • partnerships:
  • taxpayers who have investments in foreign investment funds or controlled foreign companies:
  • Māori authorities:
  • portfolio investment entities:
  • superannuation funds:

Interpretation

  1. Any word or term that is defined in a Revenue Act and used, but not defined, in this determination has the same meaning as in that Act.

  2. Examples used in this determination are included in this determination only as interpretational aids. If there is conflict between an interpretational aid and a provision of this determination, the provision prevails.

This determination is made by me, acting under delegated authority from the Commissioner of Inland Revenue under section 7 of the Tax Administration Act 1994.

This determination is signed on the 10th day of October 2017.

Keith Taylor

Manager, PAS