Open tax year vs closed tax year
What is the difference between the two?
Tax pooling can used in either the current or upcoming year. You will have until 75 days past your terminal tax date to purchase tax. After the 75th day, the year is considered closed and payment will not be accepted through a tax pool without a reassessment.
Open tax year vs closed tax year – video guide
Jade Robertson, our Marketing Assistant, explains the difference between an open year vs a closed year in the context of tax pooling.