How 2024 Easter timing affects your tax return

Easter weekend fell at the end of March this year, on the final days of the tax year. The timing has some important implications for some of you: Extended 2023 returnsTaxpayers working with a tax agent who have an extension of time arrangement for 2023 tax returns should be aware that returns filed from March […]

Your provisional tax explained

1 minute to readYour provisional tax equals your previous year’s residual income tax plus 5%. However, provisional tax paid in the past may not reflect how your business has performed over the current financial year. Your final income for this financial year will determine whether you’ve overpaid or underpaid provisional tax. Once you’ve filed your […]

Higher income? Don’t forget provisional tax!

2022-23 was the first year in a while without Covid lockdowns or pandemic restrictions, meaning most businesses, especially those in the leisure or tourism sectors, enjoyed a better year. If you’ve earned significantly more this year than in 2021-2022, congratulations! But you may want to consider an additional voluntary provisional tax payment to Inland Revenue. […]