Cloud-based accounting software company Xero released a new product today, Xero Tax, which takes the whole process of dealing with the ATO online.
Xero says it’s the first one to completely utilise the ATO’s next–generation Standard Business Reporting (SBR) platform and takes a swipe at competitors, saying it ends the need for software disc updates, as well as allowing agents to work on iPads and other devices. The 2015 return forms are already loaded into the software, released today.
The company claims it will “significantly reduce the time it takes to meet tax obligations”.
Xero Australia MD Chris Ridd says the program means tax agents can leave their desks, meet a client for coffee and show them their tax return on an iPad before lodging it electronically.
“We’ve completely rethought the tax process for the 21st century, and changed the way agents look at tax,” he said.