New legislation was passed in April 2006 to improve the timing and frequency of tax payments.
Over the next two years, we'll be aligning the due dates for GST and provisional tax payments and introducing a new option to calculate provisional tax.
If your registered for GST and pay provisional tax, the new calculation option will allow you to base your provisional tax payments on a percentage of your GST taxable supplies.
Aligning the due dates for payments will make it easier for you to pay your GST and provisional tax payments as you'll be able to pay these at the same time.
The changes may also help you with your cash flow by aligning the payment of provisional tax more closely to when your income is earned.
Please look out for more information about these new and exciting changes during the coming months.
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