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Inland Revenue

Tax Policy

Tax pooling

(Clauses 37, 38 and 39)

Summary of proposed amendments

The bill proposes that AIM provisional tax payments be excluded from tax pooling provisions.

Application date

The proposed amendments will apply for the 2018–19 and later income years.

Key features

Section RP 17 of the Income Tax Act 2007 is being amended to exclude AIM from the tax pooling provisions. This is based on the premise that tax pooling is intended in circumstances where a taxpayer faces uncertainty and AIM is based on known amounts.