Tax Reform compliance made easy*
The tax reform agenda within Australia has resulted in a significant range of changes to the mode of operation of most medium to large Australian operations. Primary changes include GST, PAYG, FBT and the potential for further changes arising from the Ralph Report. Under its i-Mergence product range Computron Software has developed an innovative range of software tools.
These enable organisations to address the issue of collection, analysis and compliance reporting in a cost effective manner that allows the flexibility to alter parameters as changes occur to statutory requirements.
The PAYG (Pay As You Go) changes effective from 1 July 2000 require organisations with more than $20 million annual turnover to lodge a Business Activity Statement combining many elements of tax reporting that are currently dealt with individually.
"Computron has developed solutions that enable the automated collation of disparate information, the appropriate calculation method for each tax element and the electronic population of electronic returns," said Peter Bisset, Director Sales and Marketing.
The i-Mergence solutions enable an organisation to collect the details related to GST from the many sources that are encompassed in this tax, summarise detail to the correct category and calculate the relevant tax or input credit entitlement.
Where information is collected from multiple systems i-Mergence enables the automated collation, irrespective of the source system, without the need to undertake complex interfaces or detailed programming to mine databases.
"Many organisations will find that the tax reform process consumes significant resources, both human and administrative, in addressing the administration aspects of managing taxation," Peter Bisset said.
"The focus on Y2K has created a situation that provides a limited window of less than six months, for software suppliers and enterprises to manage a significant group of changes effecting most systems within an organisation.
"Councils will benefit from Computron's automated software, which offers a compliance solution obviating the need to undertake the traditional systems upgrade that many software vendors and advisers are currently promoting."
For further information contact Gilly Hen-Boisen, telephone (02) 9955 9944
*Copy supplied by Computron Software.