Just as Xero's accounting software allows users to work on their accounts from practically any modern computer, tablet or smartphone, the new Xero Tax product provides tax agents with similar flexibility to work on their clients' returns, lodging them completely online with no need to install software on the agent's computer or device.
According to the company, Xero Tax - which includes the full set of 2015 return forms - is the first Australian tax solution developed from scratch in 15 years. The software as a service model means that agents always have access to the latest version of the software and the latest tax forms.
Bookkeepers, sole practitioners and small–to–medium accounting firms can save significant amounts of time by using Xero Tax to prepare and securely lodge activity statements and income tax returns, the company claims. The software is said to work whether clients use Xero or other accounting software.
Xero claims to be the first major vendor to completely utilise the ATO’s next–generation Standard Business Reporting (SBR) platform.
"We’re giving our customers back their freedom by making it entirely possible for them to meet a client in their favourite café to review their tax return, and lodge it directly from an iPad," said Chris Ridd, managing director of Xero Australia. "Xero Tax and 2015 tax forms are available now, so tax agents have time to familiarise themselves with the easy-to-use platform, in preparation for June 30," he added.
"Xero Tax has revolutionised the way we think and approach tax returns in Australia," said Steph Hinds, founder of small-business accounting firm Growthwise."No longer do we need the clunky server in the corner or multiple sets of data. We have this beautiful system now that works on any device that is also integrated with our practice management software. There is nothing on the market rivalling or even coming close to the platform."