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

© Scoop Media