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SimplerTax
Simpler Deductions ensures your clients’ claims are maximised and their risk of ATO audit is minimised.
Maximise clients’ claims & minimise ATO audit risks. Smart and innovative products to make life easier for accountants and advisers.
- Category: Tax
- Regions: AU
- Product Integrations: APS Software
SimplerTax overview
The Simpler Deductions product from SimplerTax is designed so that accountants can give the most accurate compliance advice possible to their clients – and avoid an audit. The solution essentially enables accounting firms to compare the data of the individual return with known ATO benchmarks in real time.
Executed discretely (without submitting to the ATO), a generated report provides the advisor with advice on all proposed deductions from the client and how they compare, including those that are lower than expected. What this means is that new and improved services can be offered which will provide more comprehensive and accurate tax advice, including the option for the taxpayer to reduce their risk through additional services including Audit Insurance.
With Simpler Deductions, you are also provided with precedent documents in the form of useful templates and worksheets individual clients can use to document their work related and non-work related expense claims.
SimplerTax key benefits
Produce insight reports
Produces a report titled, deduction report – how you compare, for your clients to sign and can be used as a file note for you as well as be given to your clients, which summarises your clients’ claims for the income year.
Responsive alerts
Inform individual clients immediately whether their claims for work-related expenses are “ABOVE” or “BELOW” the ATO average, and if they are at risk of an ATO review or audit.
Improved communication
Allow you to record notes for each expense claim, following discussions and correspondence with your clients.
Guides you the way
With comprehensive guidance notes, identify which work related and non-work related expenses may or may not be claimed by individuals – separated into deduction label categories D1 to D10, sourced from the Individual Tax Return.
