Story image

Online tax services saving businesses money

22 Oct 2015

Increasing numbers of businesses and individual taxpayers turning to online service to pay tax means big savings for the IRD, according to the Government.

Revenue Minister Todd McClay says Inland Revenue was spending more than $18 million on print and postage each year, but by giving customers access to their details online, it is dropping dramatically.

“Because most customers have embraced online filing Inland Revenue has saved $600,000 per year on prepaid envelopes for Employer Monthly Schedules (EMS), and this is expected to fall much lower,” he explains.

In the 2012/13 year, the cost to send envelopes was around $840,000. In 2014-15 it reduced to $200,000, and in 2015-16 Inland Revenue expects it to drop to as low as $40,000.

“More importantly, online filing means businesses and individual taxpayers are saving time and money,” says McClay.

“Already an annual personal tax summary, which used to take around 27 hours to complete, can now be done by customers online in under seven,” he says.

“Inland Revenue closely monitors how customers rate their services and know that 94% of individual customers and 96% of businesses who file online report high satisfaction,” McClay explains.

“As we move forward with Business Transformation there will be continual improvements in the ease and simplicity that people and businesses deal with Inland Revenue.

“And that’s good for everyone. When paying tax is simple, more people comply,” he adds.

Apple launches revamped iPad Air & iPad mini
Apple loves tinkering with its existing product lines and coming up with new ways to make things more powerful – and both the iPad Air and iPad mini seem to be no exception.
IntegrationWorks continues expansion with new Brisbane office
The company’s new office space at the Riverside Centre overlooks the Brisbane River and Storey Bridge.
Emerging tech helps savvy SMB’s succeed
A CompTIA report shows SMBs are taking on the challenge of emerging technologies to reach their business goals.
Tech community rocked by deaths of Atta Elayyan and Syed Jahandad Ali
Both men were among the 50 killed in the shooting in Christchurch last Friday when a gunman opened fire at two mosques.
NZ ISPs block internet footage of Christchurch shootings
2degrees, Spark, Vodafone and Vocus are now blocking any website that shows footage of the mosque shootings.
On the road again: How to tackle mileage reporting for business
There may not be too much of a budget for company vehicles in an SMB’s day-to-day business, which means many people are increasingly using their own vehicles for work purposes.
Digital experience managers, get excited for Adobe Summit 2019
“Digital transformation may be a buzzword, but companies are trying to adapt and compete in this changing environment.”
HP extends laptop & workstation recall due to battery fire hazard
HP has extended its worldwide recall of several notebooks and mobile workstations due to the high risk of fire and burn hazards.