^{Tax
Technology ... making tax easy}

Assets Consolidator

The first program of the Tax Consolidator suite is Tax Assets Consolidator™ which automates the calculation of tax cost setting amounts for each and every asset of a consolidated group. This program is available now.

You can be a tax consolidations expert in minutes for around $99 per entity and user

Typical customers

The program is aimed at anyone who needs to perform tax cost setting calculations in the shortest possible time and for the lowest cost, either for planning or full compliance. Most target users will be productive within minutes of loading the CD.

Existing customers include (without mentioning names):

A 'Big 4' accounting firm
Large public companies
Large second tier accounting firms
Small accounting firms
Legal firms

Independent TIA Tax Review comments

"This is a very impressive program, designed to give wider access to tax technology normally available only to large firms." ...

"The verdict: While it was not possible to test how the package handles every aspect of this complex [tax consolidations] legislation, the demonstration provided was impressive"

Taxation in Australia, Issue 37 No. 11, June 2003 p602

Groundbreaking

The program is groundbreaking in two main respects:

1.The comprehensive way in which it simplifies compliance with legislation that is mind-numbingly complex, and

2. unprecedented low pricing. Whilst programs of this calibre are normally marketed for upwards of $30,000, tax practitioners are now able to access the technology for around $99 per group (inc. GST).

Key benefits

Faster, easier and more cost effective tax consolidation planning and compliance
Reduced risks of errors (detailed coverage of legal requirements and documentation for tax audits)
Effective means of tax consolidations training
Built-in tax research tool with relevant law and EM's
Improve staff morale (reduce stress and drudgery)
Use to fast-track system changes (or as a system add-on) and due diligence assignments

Features common to all programs in the Tax Consolidator suite include:

Context sensitive tax technical help, including guidance in plain-English
Unlimited number of entities and groups (subject to licence and computer capacity)
Automatic consolidations include user adjustments and overrides
Access restrictions for group and/or company by username and password
Designed to be used with minimal (if any) user training
Includes law and rulings as at 1 December 2003 (including TLAB (6) & (8) 2003 and ATO short-cuts)

This program streamlines the planning and handles the compliance requirements arising from the tax consolidations assets rules. The rules are complex and include transitional options as well as the calculation of the allocable cost amount if the entity wishes to utilise the possibility of increasing the tax values of its assets.

Specific features include:

ACA Wizard to guide users through every step of the ACA calculation
Assets Wizard to guide users through data input required to calculate the tax cost for each asset
Manual overrides allowed for all data input by Wizards (including copy/paste from existing systems)
Over 65,000 separate assets per entity in standard version
Built-in NPV comparison of depreciation and CGT using existing values and tax consolidation values
Comprehensive plain English tax commentary
Includes sub-groups which arise where a particular entity is "chosen"
Includes the dreaded s705-57 adjustments
Handles all joining scenarios and entity types (including life insurance)
Data capture and calculations to facilitate entity disposal
Calculates capital gains and losses arising on consolidation (inc. CGT events L1 and L8)
Handles dual costs for internally generated assets and life insurance company assets
Built-in input error checks
Built-in back-up and restore data facility
The Help facility allows context-sensitive access to the law, relevant EM's and plain English guidance. Key terms are linked to defining sections and all cross references are linked. The facility is indexed and include tables of contents (both drill-down and fully 'blown') - all linked to relevant topics. The user may create bookmarks and annotations, as well as record notes and print from within the facility.
Minimal systems requirements (if you can run Microsoft® Excel97 or later, then you can run this program),

Pricing

The text below sets out the pricing for a licence to use the program.

The pricing of the product is based on the value derived from its use and is as follows. The prices include GST.

The pricing formula is $99 per entity and per user, with a minimum of 5 entities per group. The minimum order value for software is $990. These amounts include GST.

Tax Agent example: For a Tax Agent with 3 users and 4 clients with the following number of entities: 2, 7, 5, 12 , the price would be $3,168 inc. $288 GST (ie 3 users @ $99 = $297 plus 2 clients with 5 entities or less @ $495 = $990 plus client with 7 entities @ $99 = $693 plus client with 12 entities @ $99 = $1,188)

Corporate tax accountant example: For a corporate with 3 users and 23 entities the price would be $2,574 inc. $234 GST (ie 3 plus 23 = 26 @ $99)

Ancillary products exclusive to customers

Licencees of the program are exclusively entitled to order hard copies of two products which complement the program.

The Tax Cost Setting Guide is a comprehensive plain English guide which includes complex areas not handled by the Tax Office consolidations reference manual. This guide covers more than 60 A4 pages and is included in the program and also available in hard copy format for $176 per copy (inc. $16 GST).

The Tax Cost Setting Case Study is a detailed case study which covers complex areas not handled by the Tax Office consolidations reference manual such as sub-groups in formation scenarios and ripple-down s705-57 adjustments. The Case Study covers more than 135 A4 pages including printouts of the ACA and tax cost setting calculations for each entity and scenario covered in the case study. Also included is an example report from a Tax Accountant to a Finance Director concerning the results of comparing different consolidation transitional options. The pricing is $1,298 per copy (inc. $118 GST).

Maintenance and upgrades

The program reflects the rules applicable as at 1 December 2003. Since the main objective is to assist taxpayers considering entry into consolidation and since the government has stated that business now has the full consolidation picture, it is considered unlikely that major upgrades will be required to the program and accordingly no specific maintenance arrangement is applicable.

If significant changes are applicable, the need for an upgrade will be reviewed and if necessary, customers interested in an upgrade may be requested to contribute to costs. Customers are under no obligation to accept any upgrades.

The licence entitlement includes any changes required to ensure that the calculations performed by the program are in accordance with the law as at 30 June 2003.

Order Form

Please complete and mail the TAC Order Form (on the back page of the brochure) to receive a licence to use this program. Please click on the following link to view a standard Licence Agreement. Included in the licence entitlements is a 30-day money back guarantee if you are not completely satisfied.