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.
- 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.
- This determination details the classes of taxpayers that must not use the AIM method.
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:
- taxpayers who have investments in foreign investment funds or controlled foreign companies:
- Māori authorities:
- portfolio investment entities:
- superannuation funds:
- 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.
- 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.