Cheaper tax returns thanks to Xero?

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Cheaper tax returns thanks to Xero?

If your accountant or tax agent uses Xero, ask for a fee reduction next time you lodge a tax return.

The latest improvements to Xero Tax make life easier and quicker for accountants and BAS agents. And since Xero's certified partners aren't charged for Xero Tax, reducing the time needed to complete your return without increasing the associated costs should translate to reduced fees - right?

Top of the list is support for e-signatures, so documents can be signed electronically instead of passing papers back and forth. This alone is said to save up to 15 minutes per tax return or activity statement.

Then there's integration with Dropbox for Business, allowing documents to be stored online.

These two features mirror the functionality of MYOB Portal, which was revealed by Xero's arch-rival this time last year.

Xero Tax works with the ATO's new Cloud Authentication process for quick setup, and provides tools to simplify GST data capture whether or not the client uses Xero, an integrated cover letter with optional substantiation declaration, and improved consistency with other forms.

"We're in a whole new world," said Sue Hart, co-founder of Synergy Bookkeeping. "Our old manual folders, with elastic bands with dog-ears full of signed and lodged BASs and printed copies of emails have been replaced with electronic storage within the client job on Xero Practice Manager using Xero Tax. 

"Since adopting Xero practice tools, we never looked back and it's become an integral part of our operation. Without it, we wouldn't have the continued growth or financial outcomes we now see."

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