NZ GST Increase
The NZ GST rate is set to change on 1 October 2010 from 12.5% to 15%. This will be a major change for a number of businesses but for those using emPOWER, this change does not need to be a major disruption.
Intersoft, as the developers of emPOWER, were there when GST was first introduced in 1986 and when it changed from 10% to 12.5%, so we are experienced in handling GST in all its different forms. In light of this, the GST rate in emPOWER is NOT hard coded and is easily changed by the User when the time comes. There is no need to change your accounting system.
There are any number of articles claiming doom and gloom and a problem worse that Y2K but if you are using emPOWER - you can rest easy in the knowledge that emPOWER is ready for the change. Yes, you will need to address some timing issues and study the impact of the GST rate change on other policies within your business, but your accounting system will provide the backbone to this change and your backbone is rock solid!
We have prepared a special Guide for emPOWER Users to help them through the change. A link to this is provided below but it should be noted that the utilities etc referred to in the Guidelines are only available from Authorised Intersoft Dealers. We would also strongly suggest that emPOWER Users seek professional advice if they have any queries about the GST Rate change and the impact it may have on their specific business processing requirements.
Additionally, there are a few links that can provide some useful information on the change.