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Changes to software

What changes would you like to see in your software to help you work out your provisional tax payments?

We will work with software providers to ensure their products calculate tax obligations that result in confidence and certainty. Inland Revenue will develop the specifications required from a software programme before it can be offered to the market place, and will hold the right to audit any software. 

Making software intuitive and simple to use must be balanced against the need for accurate tax calculations. We expect software to offer prompts and alerts to help businesses provide the right information, as this will encourage accuracy and build confidence in the tax calculation.

For more detailed policy analysis and feedback opportunities in relation to the enhancements required to software programs to enable the delivery of AIM click here

We are interested to hear from business owners and tax advisors with regard to your current software.  What changes would you like to see in your software to help you work out your provisional tax payments?

Comments

Brett
Cloud based software frequently has issues with live bank feeds reliability, especially where a third party is involved (eg Yodlee). There are some account types that are simply not supported or unreliable. From the sounds the software providers make this is more an issue with the banks end than the accounting software. However non bank deposit takers (investment firms) and lenders (Finance Companies) should be considered as these provide no live feeds and have a heavy impact on the financial result.

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2 months ago
Chris
The pay as you go tax should be based on the tax payers book of accounts. Feeds are an automation, however should not be a necessity. The tax payer needs to make sure that the individual line items are coded correctly not trying the get the banks to change descriptions to allow the software to automatically match coding. Way to difficult and wont happen

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2 months ago
Donna
I would be keen to pay provisionally at the same time as GST. We use Banklink so if that could be used for calculations, great. Not keen to do depreciation though.

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2 months ago
Bian Gray
I also use Banklink. It is very cost effective and simple. Perfectly satisfactory for my business. If AIM payments can be incorporated into Banklink that would suit me. Not so keen on having to pay extra for MYOB or Xero.

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2 months ago
Angie Mills
We use Xero and so far their upgrades always seem to stay abreast of positive changes to make processing tax payments and the reporting of it straightforward - I wouldn't imagine these new proposals would be any different

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2 months ago
Ross Williamson
Have IRD work with Acclaim, Cash Book to make AIM work on the simple system.

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2 months ago
Victoria
I use Xero which is accessed by Rightway my accountancy firm. I am sure that Xero would have the necessary adjustments sorted out already! The only part that might not be covered is the tax rebates - particularly on donations but am sure this could be done either periodically too or at the end of the year. Aside from this nothing would need to be adjusted for me apart from adding in the income tax calculation much like the GST calc function.

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2 months ago
Gail Mc Lean
I just make sure I put money aside in an account for Tax payments which means the money I always there. I don't think it makes any difference as I understand you can make payments randomly for Tax to IRD.

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2 months ago
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