Airtax is a digital tax assistant service, provided by PwC, that is geared toward freelancers and micro-businesses. As part of the gig economy, one still has mandatory tax obligations -- having an ABN, being registered for GST, submitting regular Business Activity Statements and lodging an annual income tax return. Of course, these requirements differ across countries, however, it is still a hassle for many freelancers to deal with business and bureaucratic tasks.
The Airtax takes care of these obligations in an efficient and cost-effective way, ultimately allowing freelancers to "spend more time with [their] clients and less on business admin." The tax assistant digital service allows individuals to submit their income tax return in 15 minutes for $99 and their BA S lodgements in 10 minutes for $49, as well as apply for ABN and GST registration for free in under five minutes.
Freelancer-Oriented Tax Assistants
Airtax Elevates the Stress of Filing Taxes for Freelancers
Trend Themes
1. Freelancer-tailored Financial Services - Opportunities to develop personalized financial services for freelancers that address their unique needs, such as tax obligations and money management.
2. Cloud-based Digital Assistants - Development of cloud-based digital tax and financial assistants that streamline administrative tasks and reduce the burden on freelancers.
3. Automated Tax Compliance - Automation of tax compliance for freelancers through the use of machine learning and artificial intelligence, freeing up time to focus on providing value to clients.
Industry Implications
1. Fintech - Opportunities for financial technology companies to partner with freelancers and digital platforms to offer specialized financial services and tax assistance.
2. Accounting - Opportunities for accounting firms to develop digital tools and services that cater specifically to the needs of freelancers and micro-businesses.
3. Marketplaces - Opportunities for digital marketplaces to integrate cloud-based financial and tax assistants into their platforms to help freelancers manage their finances and business obligations.