Tax planner details changes

KPMG personal financial services division has published its Personal Tax Planner 2001

KPMG personal financial services division has published its Personal Tax Planner 2001. The comprehensive planner is designed to assist individuals with a review of financial and taxation affairs for the remainder of the short tax year.

The booklet highlights the changes taxpayers have to contend with and the important deadline dates to remember:

By October 31st, 2001, preliminary income tax for the short 2001 tax year is payable;

By November 1st, 2001, capital gains tax for the 2000/2001 tax year is payable.

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Taxpayers must also be aware of the introduction of the new pay and file system. Under this system by October 31st, taxpayers must:

Pay preliminary tax for that year;

File their tax return for the previous tax year;

Pay the balance of income tax for the previous tax year;

Pay capital gains tax for the previous tax year.