Canada Tax - Make GIFI available to non partners, for self tax reporting
All businesses have to file tax returns. Some prepare it themselves using other Xero product such as TaxCycle. To prepare tax returns it is important to start with CRA's GIFI values which maps the Chart of Accounts in Xero to the tax codes required by CRA.
Xero currently provides GIFI feature to partners but not business owners. This should be standard on all Xero files and not just partners. It should be a relatively quick fix to implement so that a business can decide on how its tax returns are prepared and when GIFI is added can prepare them more efficiently.
Bill Carroll
shared this idea
Hi Bill, and others interested - appreciate you raising the idea here. Though we understand some business owners may want to control this themselves to clarify the current process - Atm, GIFI mapping is available for T2125 and T1776 forms that integrate with TaxCycle. With TaxCycle being a Partner specific product there are no plans to at this time to open this feature further.
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Jayme Kinneberg
commented
GIFI code mapping is an absolute must have feature! Not enabling non partners; aka self prepares/or DIY business to access a feature that is already developed is ridiculous.
We are not asking for a large amount of capital to develop a feature; simply access to it.
We should not have to use a CPA and pay $2500 a year for them to spend 3 hours and populate a tax return.
Was willing to pay $1020 for TaxCycle to do it myself; although there is a standalone version of TaxCycle for people to self prepare not through a partner; but the same features are not mirrored in the non partner Xero platform.
This would take the developers what 1 sprint (2 weeks; max 4 wees) to enable this on our non partner program interface.
As well some of the comments above make it sound like there are quickbook options that are not $1000. If it ends up being that I can save say $700+ by using quick books that can integrate the data; sounds like we should all migrate away from this product.
Looks like Xero has been ignoring its customer base for several years.
Would you please confirm if this can be added to the current agile development cycle this sprint?
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Jason Loewen
commented
I vote for this as well. Completely ridiculous to not be able to choose how I file my small business taxes. Will definitely be switching account software!
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Atul Shah
commented
I raised a ticket for this too, not knowing that GIFI codes were available to partners only. This is crazy that Xero has no plans to make this more widely available. How do I file my taxes then? If Tax Cycle was available at a comparable price point to Turbo Tax's corporate SW (C$310) then I would consider using Tax Cycle and integrating Xero but even then, integration is only available to partners, and Tax Cycle starts at over $1000 for single users! Makes me want to switch accounting systems
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Sylvia Anderson
commented
I vote for this as well!
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Craig Clark
commented
Trying to find a Quickbooks desktop alternative and this is a deal breaker for me
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Murray Roddis
commented
This is ridiculous... After switching from Quickbooks to XERO, I have questioned why I thought XERO was such great software. There are many hidden issues that really take away from the initial apparent convenience of using XERO for a small business owner. Not having access to managing the GIFI codes and doing my own CRA Tax reporting is a major issue for me. It looks like I am headed back to QuickBooks! I am not interested in paying $1020 per seat of Xero's proprietary Taxcycle software to submit a T2 for a small startup business with less than $20,000 in gross income! XERO is not for startups!
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Alexander Besperstov
commented
Won't work for me without it.
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Myriam Coomber
commented
We should be able to map our own accounts in Xero for tax purposes. I will have to create it manually outside of Xero, which adds a layer of complexity and potential source of errors as well going forward and for future tax returns.