1. Knowledge
  2. Tax Pooling 101

Who can use tax pooling?

The majority of taxpayers can benefit from tax pooling

Tax pooling is available to the vast majority of taxpayers in many different scenarios. Whether your client has the cash to pay their income tax, needs additional funding, has missed a tax payment, or did not pay enough tax, tax pooling can assist, saving money and adding significant value to their business.

Restrictions:

  • Tax pooling for a given income tax year generally needs to be completed within 75 days of their terminal tax date (their tax pooling window).
  • To be able to use tax pooling for the current period, you need to be up to date with your tax return filings.
  • Tax pooling cannot be used for provisional tax payments made using the Accounting Income Method. However it can be used for their terminal tax payment.