Now that the Federal election is over, the millennium bug isn't the only issue the channel will be helping users solve. A Goods and Services Tax (GST) is now also on the horizon.
The legislative battle over the GST has not even begun, but local accounting software developer Sybiz Software is already moving in to prevent the "GST-compliance" panic among its financial application users.
The organisation has announced it will help small businesses cope with the change by sending all Sybiz Vision, Vision Lite, Elite and QuickAccounts Office users "a special program to convert their data form a sales tax to a GST system".
Sybiz intends to push ahead with the plan despite the fact that the future of Australia's tax system has yet to be decided. If a GST is adopted, accounting software would require several modifications to enable GST and new payroll tax calculation.
Having sold and supported its accounting systems in several countries which use GST or VAT, Sybiz officials believe they have the necessary experience to make the transition easier for local users.
"Sybiz accounting systems are GST ready, and will be adapted for Australian legislation as soon as that information is available from the Government," Peter Lucas, managing director of Sybiz said.
Lucas claims "most business people see that [GST] is good for the long-term future of business in this country".
However, the cost of GST implementation continues to worry many small-and-medium business owners who stand to benefit from an early GST preparation and education plan.
"While big business has the resources and strategies to throw at the issue, most small businesses are more concerned with day-to-day operations and survival to learn out about it," Lucas said.
He added that Sybiz's initiative should "help small business understand and implement GST ready systems".
For now, however, the only foreseeable winners are IT contractors poised to play a major role in another software-compliance episode.
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