With Xero, you’re now able to lodge activity statements directly to the Australian Tax Office in your practice organisation and any client subscriptions that you’re invited in to.
Every quarter, six million business activity statements are lodged in Australia, with 50% lodged by tax or BAS agents, and 30% on paper forms. That’s a whole lot of BAS.
So it’s no surprise that being able to lodge activity statements to the ATO directly from Xero has been high on the request list from small business owners and the Xero partner community alike.
Currently, Xero partners (BAS agents and tax agents) can use Xero Tax to lodge activity statements or manually re-enter information from Xero into a form, either through the ATO portal, using alternative software, or filling in a paper form. This is time-consuming, as it requires double handling of data and the need for multiple systems. Lodging activity statements with Xero will make the process easier by eliminating the need to rekey data or submit paper forms; it will minimise errors and save time.
Here’s how it will work.
With this new feature comes a new user permission setting: Submit BAS. Only users with this permission will be able to lodge activity statements. For all users, the default setting will be ‘off’. The right to submit BAS will ultimately be controlled by the subscriber.
The next stage of the rollout will see the feature turned on for all subscriptions without a partner invited in.
Here’s what some of our accounting and bookkeeping partners have to say about lodging activity statements with Xero:
“Lodging BAS straight from the Activity Statement in Xero is absolutely awesome. No re-entering of data and no hassle of finding any ATO login details. It means I don’t dread doing it and get it lodged earlier.” – Alexander Kohl, Promis
“Take a bow, it was awesome. Pressed a couple of buttons and it was successfully lodged straight away. Definitely want it for all our clients” – Peter Di Tommaso
“The lodging of BASs from Xero has been very easy & worked as expected. I will certainly continue to use the feature, and look forward to rolling it out to our clients that use Xero and prepare their own BASs.” – Ben Kurtz, Nortons Business Advisors