Simplifying GST for business owners
We’ve been working with Inland Revenue to integrate tax processes into MYOB online accounting and payroll software to give businesses the ability to direct file with the IRD.
This is to give business owners an integrated experience, where they can manage their day-to-day business functions as well as their compliance obligations. This means that compliance doesn’t become a separate exercise for SMEs and reduces their overall compliance burden.
So what’s happening?
- From 1 December 2015, Inland Revenue is trialling the digital filing of GST returns with a select group of MYOB Essentials clients.
- From March 2016, once Inland Revenue is satisfied that the service is operating successfully, we will extend digital filing for GST to all MYOB Essentials and AccountRight subscription clients.
What does this mean for you?
If your clients using MYOB Essentials have been invited into the trial and meet the following criteria, make sure they’re signed up. (Get them in quickly, because there’s a limit to the number of businesses in the trial.)
- File GST returns (not GST/Provisional Tax)
- File GST either monthly or two monthly
- Be a registered myIR user
- Be authorised to file GST returns on behalf of their business
If you file GST returns on behalf of your clients, you’ll just need to hold tight for the time being. Accountants and bookkeepers who file on behalf of their clients are not included in the trial because more technical work needs to be completed by Inland Revenue in relation to authentication for authorised persons.
The trial kicks off on 1 December 2015 for GST returns period ending 30 November 2015 (and ongoing GST returns).