Software and product provider International
Decision Systems (IDS) has released a new product for the
Australian market, aimed at helping customers abide by recent
changes to the country’s legislative regime.

According to IDS, the Goods and Services Tax
(GST) Hire Purchase system has been launched in response to GST
reform legislation, which specifies that all Hire Purchase deals
written on or after July 1, 2012 are taxable and require a GST to
be calculated on repayment interest.

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Katie Emmel, IDS vice president of product
management, said: “We take the burden of our customers’ meeting
compliance issues and their timing very seriously.”

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