Greater automation between businesses and the tax department could see the time it takes to get a tax return reduced to just 48 hours in the future, according to the head of an online accounting service. "I think what will happen in the future is that it becomes much less transactional when you file a tax return. She estimates small businesses currently spend 10 to 20 hours a month on doing accounts, GST, tax, and payment-related activities. De Bievre said more automation could see tax returns happen as quickly as 24 to 48 hours rather than taking up to 10 weeks - the current maximum timeframe set down by the IRD. That would be of concern for small businesses if they aren't claiming what they should be."

Source: New Zealand Herald March 19, 2017 20:48 UTC