For Xero and MYOB customers, GST filing is now faster, simpler and more accurate. This is because both accounting systems now offer a service that allows businesses to file GST directly to Inland Revenue in one click.
Some businesses have been trialing the service since last year and it’s expected to be rolled out to all MYOB and Xero users throughout April and May.
By the end of March, more than 1,800 GST submissions had been successfully filed using the service.
Inland Revenue’s Deputy Commissioner Service Delivery Arlene White says 83% of those who have used the new service found it much easier than the old process.
“We’ve had some very positive feedback from customers about the convenience, simplicity and accuracy of it,” she says.
Customer feedback has also led to some system improvements, including the ability to file a combined GST and provisional tax return.
More enhancements are on the way, Arlene says, but many businesses are remarking on the benefit of not having to re-key in data. This means more time saved, as well as fewer errors.
Getting on board with filing tax returns through software has a number of great advantages for businesses.
Among other things it can:
Filing tax through accounting software is an alternative channel to make it simpler and faster for businesses. Filing GST through myIR is still available.
Enabling small businesses to manage their GST as part of their day-to-day administration processes is one way IR are working to make tax time easier.