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Tax Toolbox Launched by Wise Advice

( Wise Advice Ltd recognizes the importance of keeping abreast with technology in today’s competitive marketplace. Managing Director Brad Golchin stresses that “in this fast paced business environment it is essential to keep your fingers on the pulse and have instant access to your business information, recent developments in cloud based and mobile technology is making this possible.” In line with their mission to help small business owners Wise Advice set out to develop and expand an easy iPhone calculator for wider use. The result was the Tax Toolbox which is the first app in New Zealand to incorporate GST, PAYE and income tax calculators with due date reminders in one easy to use iPhone application.

The GST function allows you to calculate the GST component of any amount and is a perfect solution for situations where you need to come up with this element of a cost at meetings with clients, or work out costings on the spot and make business decisions on site. Another feature is the PAYE calculator which gives an instant breakdown of PAYE calculations and deductions such as Kiwisaver and student loan repayments for employers and employees. A personal tax screen enables you to estimate your own personal tax, broken down into all the components that make up your payments. This app. is a valuable tool to have at your fingertips when interviewing prospective employees or talking pay rises with existing staff or changing tax codes and working out the financial implications on your business.

Tax calculation tools are available online but are not nearly as portable or as instant as this new iPhone app. The added advantage for business owners is the reminder service for paying GST to the IRD. This app. sets up a reminder for payments that gives you time to act and keep up to date with business payments. The app. doesn’t stop there. Wise Advice recognizes that reminders for provisional tax and PAYE are just as important for tax compliance and the app. deals with that as well. Provisional tax dates are often hard to remember and users will be reminded with this app. in plenty of time to arrange payments when funds are to hand.

In addition to the calculators and reminders the Tax Toolbox includes a business and tax news column, covering a wide spectrum of information for users to round out the application.

Wise Advice wants users to know that this application is complimentary to the official IRD online calculation and information service and is not intended to replace it, nor is it a tax advisory tool. It is a very handy little device for anybody working in the business world that needs quick information on the move.

The Tax Toolbox is available to download for FREE from the iTunes App Store.

Media Release 29 November 2011.



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