Category Archives: Product Updates

Taxlab and Tax Traders – A New Era

Launch of New Partnership

We are excited to announce the launch of a tax technology partnership in New Zealand. Today marks the first day of an exclusive new partnership between Taxlab and Tax Traders, a leading tax pooling intermediary and one of NZ’s fastest growing fintech companies.

Our mission has always been about enabling technology to take the pain, risk and cost out of tax administration. This partnership will help further our mission and revolutionise the way New Zealanders pay income tax, both now and into the future.

Check out what this partnership could mean for you!

“Tax Traders has disrupted the traditionally complex and cumbersome world of tax payments via the tax pooling framework, and we’re delighted to be able to partner with them in this way.”

Allen Knight, CEO of Taxlab

New Offering for Corporates

To celebrate the launch of this partnership, we unveil a new offering: Tax Traders Corporate.

This offering provides companies with an enhanced suite of tools that provide automatic access to consolidated tax information so they can make smarter and more efficient decisions and do this in a fraction of the time! More companies will now be able to pay their income tax in the way that suits them best and reflects their unique business model.

Scholarship and Support

Marking this significant moment, we are also launching a new $30,000 tax technology scholarship, Cultivate.

The scholarship program will identify and grow untapped potential in the field of technology, creating opportunities for students who may otherwise face significant barriers to pursuing a future in the industry.

And This Is Just the Beginning

We have been working together on various projects over the last couple of years. This partnership is a key step towards our vision and reflects the growing desire of both parties to collaborate.

Our approach to collaborating and integrating with other innovative technology solutions like Xero and Tax Traders means we can continue to help create a highly efficient process between taxpayers, tax agents and tax authorities.

Taxlab FBT Software

2021/2022 FBT Update – Free Webinar

The new FBT rates for 2021/2022 are:

  • Single rate = 63.93% (previously 49.25%);
  • Alternate rate = 49.25% (previously 43%); and
  • Pooling rate = 49.25% (previously 42.86%).

After positive feedback from our earlier presentations, we are hosting one final webinar before the first 2021/22 quarterly calculation is due.


PwC and Taxlab – 17 June 2021 – Webinar registration

Taxlab are pleased to have Josie Goddard of PwC to talk us through the technical FBT changes and help you understand the different options for calculating FBT payable. Josie will use a case study to show the impact of the higher 63.93% FBT rate.

To close, we will showcase how FBT software provide a real opportunity for employers and advisers to save tax, better manage cashflow and efficiently complete the FBT return with automated de minimis, attribution and pooling optimisation as well as sense checks, reports and analytics.

Register your interest now.


Speakers

Josie Goddard, PwC New Zealand

Josie is a Senior Manager in PwC’s employment tax practice and brings 8 years of experience in advising large employers. She has led many payroll reviews focusing on employment taxes and has managed a number of Inland Revenue reviews and audits. Josie leads PwC’s policy submissions in relation to employment tax and was PwC’s lead specialist in relation to the recent payday reporting changes.

Jeremy Dobbie, Taxlab

Jeremy has over 10 years of experience working at PwC NZ, Thomson Reuters and EY UK, and exclusively with tax & accounting technology since 2013. He joined Taxlab in 2019 to help ensure the compliance needs of accountants and tax professionals are understood and connected with the relevant solution.

FBT Trainings 2020

To help during lockdown, this year we are offering free online FBT software training. We also highlight some excellent FBT technical sessions hosted by our partners.

Free Taxlab FBT software training

If you are new to Taxlab, or would like a refresher, please register today for a free online training:

Each session is 1 hour long, qualifies for CPD hours and covers the fundamentals of Taxlab FBT, including:

  • Importing benefits
  • Managing motor vehicles
  • Importing employee salary data
  • Full attribution calculation and Q4 true-up
  • Finalising and filing FBT returns

FBT technical training

Want to brush up on your FBT technical knowledge or understand the latest employee tax developments in a Covid-19 world?

Our partners are offering some useful FBT technical sessions over the next month:

Taxlab Australia

Taxlab to enter Australian market

Industry heavyweight Mike Roberts named to lead Taxlab Australia

MELBOURNE, Australia – Leading provider, Taxlab, announced today its planned entry into the Australian market, which will bring its revolutionary tax compliance software to Australian customers for the first time.

The New Zealand-based company will enter the Australian tax compliance software market in 2019 under the leadership of Mike Roberts, a 20-year veteran of the global tax technology market.

Roberts spent five years at Thomson Reuters leading the company’s European, Middle East and Africa (EMEA) tax and accounting business. Most recently, he led EY’s Oceania Tax Technology advisory team providing direct experience of the trans-Tasman market.

Mike Roberts“I’m hugely excited to be joining Taxlab at this major milestone in the business’s life. The market is demanding high quality, proven cloud-based tax reporting products and I’m very much looking forward to delivering on those needs with Taxlab’s revolutionary platform.” – Mike Roberts, Taxlab Australia

Taxlab is unique in its ability to provide a single, cloud-based approach to collate, process and complete tax compliance for every taxpayer, regardless of their entity type, size or complexity. This is a true differentiator for tax compliance software, and comes at a time when the Australian market is seeking to modernise its tax compliance systems.

Allen Knight“Welcoming Mike into Taxlab is an exciting time for us as we bring our unique tax solutions to the Australian market. With an outstanding track record of building and leading international tax technology businesses, Mike further strengthens our executive leadership capability.” – Allen Knight, Taxlab Managing Director.

Taxlab is New Zealand’s leading solution for tax compliance and reporting. Founded in 2009 by Allen Knight and Karl Farrand, who previously led Deloitte’s in-house tax technology team, Taxlab’s current client base includes more than 150 of New Zealand’s largest corporates and firms, including three of the “big four” accounting firms.

For more information or to arrange media interviews, please contact Mike Roberts at mike@taxlab.online or on +61 499 000 264.