Xero Announces eGST to Make Filing GST Returns Easier
Xero Announces eGST to Make Filing GST Returns
Easier
- Businesses can now lodge GST returns online directly to Inland Revenue with Xero
WELLINGTON, 21 July 2016 - Xero (@Xero) customers can now file their GST returns in Xero and send them straight through to Inland Revenue electronically, making it easier to connect with Government using the power of Xero.
Xero’s been
working closely with Inland Revenue and 1,400 Xero customers
to trial this service over the last few
months and help simplify the taxation system by
incorporating the current GST filing process in Xero.
When provisional tax is filed, a Xero customer can select their provisional tax method and
click ‘File Now’ where they will be prompted for their
myIR login. No double entry of their Inland Revenue number
or other information is required because Xero eGST will
populate it automatically.
Xero uses multiple layers of security to protect
the financial data of its customers both when the GST return
is stored and when it’s being transferred from one system
to another for greater customer confidence.
Time
and money are at a premium for any small business owner and
compliance obligations can be a significant drag on both.
Research has shown that an owner-operator typically spends
50-55 hours per year on tax compliance alone*.
Working with government Xero has been, and will
continue to be, a strong advocate for reducing the burden of
compliance and simplifying communication between business
and government.
Comments on the
news
Xero’s Managing Director,
Anna Curzon says, “It’s exciting to see the New
Zealand Government introduce digital
integrations.
“Think of all the time you and your
accountant or bookkeeper spend administering GST, staff
taxes and benefits, social welfare payments, ACC, KiwiSaver,
company and personal tax.
“Now, with Xero’s
eGST service, there’s no more need for manually filling
out forms and sending them off in an envelope to Inland
Revenue. We’re helping businesses and their advisors
reduce the burden of compliance.”
Frank
Hsu, of Frank’s Coffee and Eats says, "Xero makes
it easy to get my books done, and takes out the hassle of
paperwork – like filing taxes with the government. Xero
has always calculated my GST but I used to enter that into a
separate system to file my return. Now I do it in Xero and
it's filed in seconds, without any chance of human error –
it's accurate and easy to use. It's one less thing I need to
remember to do."
Find out more information about Xero’s eGST service now on Xero’s website and blog, or on
Inland Revenue’s website.
*source IRD
Compliance cost survey
2009
ENDS