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Australian Tax is imminent

At Xerocon in Melbourne last July, our Australian Managing Director Chris Ridd, stood on stage and announced that Xero was going to build an online tax platform for the Australian market. This is of enormous interest to our accounting and bookkeeping partners and also a substantial investment for our company. Now almost a year on, with a fully fledged development team on board in Melbourne our first releases for online tax are imminent.

As Product Manager for Australia and the latest addition to the Australian leadership team my primary focus is on our local features – Payroll and our Australian Tax platform. We believe this tax platform will be one of the most important and game-changing products that the accounting industry has seen here in years.

Our vision for Tax

It’s not often you get the opportunity to re-engineer an industry. Our vision is a seamless experience combining My Xero for Partners with Practice Manager, Australian Tax and Workpapers into a single integrated Practice Studio solution saving you many, many hours!

Accounting practices, bookkeepers, tax agents and businesses understand that the cloud is the future when preparing and filing reports with the ATO. It’s all about taking advantage of these key benefits:

  • Single Ledger –  ease of sharing information between you and your accountant, tax agent or bookkeeper. No re-entering from Xero to save you time or you can manually enter data if needed.
  • Pre-filing – reports are automatically filled with information from Xero, as well as information held by the government (on relevant reports only)
  • Paperless – remove the hassle and costs handling paper work.
  • Electronic record keeping – your reports are securely stored with Xero.
  • Real time responses – you get a real time response that your report has been received.

A great (and experienced) team

The key thing that was evident to me in my first few weeks at Xero was the breadth and depth of experience and knowledge in the Australian Tax Team all brought together to focus on this project.

Not available for the above photo shoot were Anil, Rohan, two Pauls, Nick, myself and many more in the wider Xero team contributing to the project.

So when can I have it?

I know this question is on the tips of your fingers ready to comment below. Our Melbourne team is full-steam ahead to deliver the first two online tax forms (TFN in Xero Payroll and Activity Statements in Practice Manager, WorkflowMax) in the near future.

Our goal is to for you to be able to file these returns in July this year. With the framework in place we have an ambitious rollout of other tax forms planned. We’re targetting having all you need for the end of the 2013/14 tax year. This includes Company, Partnership, Trust, Individual and more.

 

Read more about Accountants

 

20 comments

Elizabeth Salter
29 May 2013 #

Very exciting! Can’t wait. :)

Carl
29 May 2013 #

Awesome stuff, looking forward to the progress of this tax platform. The pieces of the puzzle are almost complete.

Nigel
30 May 2013 #

Go for it Miggsy! Good luck guys!

David
30 May 2013 #

Great news. Really looking forward to Xero’s Australian tax module. Once its up, I’ll be able to run my practice completely and seamlessly from the cloud :-)
Goodbye Reckon !

anna
31 May 2013 #

Great news looking forward to rollout

Question will we be abke to submit BAS’s for our non Xero clients

Oliver Furniss
31 May 2013 #

Thanks everyone for your comments.

@Anna. In short yes, you will be able to complete and lodge BAS’s for non-Xero clients, but the bigger time savings will be with your Xero clients to take advantage of pre-fill from Xero.

Mark
31 May 2013 #

Bring it on…can’t wait to move over.

Andrew
24 June 2013 #

So it’s almost July – how is the ATO module rollout going? I’ve had a trial, but want to be a paying member if I don’t have to duplicate my processes. Go Xero!

Oliver Furniss
24 June 2013 #

Hey @Andrew. We are still on track on targeting the release of online activity statements, via WorkflowMax, and TFN Declarations, via Xero, in July as per the original blog. Lots of moving parts to make this happen and as soon as we can we will of course let everyone know via the blog and other channels.

Oliver Furniss
24 July 2013 #
Oliver Furniss
5 August 2013 #

You can now submit employees TFN Declarations online from within Payroll – http://blog.xero.com/2013/08/payroll-hooks-up-to-the-ato/#more-37183

Ray
14 August 2013 #

When is the expected release date for the tax program? Will it be ready for the 2014 tax year? We hope so!

Oliver Furniss
14 August 2013 #

@Ray we’re still working towards the same timeframe as outlined in the post above. We’re targetting having all you need for the end of the 2013/14 tax year. This includes Company, Partnership, Trust, Individual, Fund more available.

Jason
28 February 2014 #

What’s the status for 2014 Tax? It’s very hard to find any real solid answers on it or perhaps I’m looking in the wrong places?

Oliver Furniss
3 March 2014 #

@Jason we’re still working away in the background to deliver the initial release in June followed by frequent releases. Our plans remain the same as outlined above and the priority is the Company and Individual followed by Trust and Partnership. As we get closer to June you’ll be hearing lots more information. Did you attend one of the recent roadshow events in February? We went to 20 cities and one of the sessions was dedicated to tax. We will be back on the road in the capital cities in May and will be giving a detailed update and more information then.

Oliver Furniss
3 March 2014 #

For those that missed the roadshow we are holding online sessions this week including the Tax session. You can register by following this link – http://events.xero.com/au/events/763-xero-roadshow-feb-2014-online-sessions

Tony Young
7 March 2014 #

We eagerly look forward to the balance of the tax release. efficiency gains with the bas lodgments have been significant. whilst we don’t anticipate such gains with the income tax module ie you have to create a job, allocate a task in WFM which lets face it is clunky, it will however complete the missing link to take our business 100% cloud based.

building an income tax module from scratch must be a huge undertaking and credit to xero for taking it on.

Natasha Faux
18 July 2014 #

Any update on the tax releases???

elisa
12 August 2014 #

Yes, please let us know if there are any updates on this. Thanks.

Andrew Jeffers
15 August 2014 #

Guys when is the full suite of tax returns coming??

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