Tax Software

Individual Tax Returns have been traditionally the domain of desktop software. Laptops are lugged from client to client with rekeying and transcribing information as a common practice. The entire system leverages on Australian Taxation Office’s ELS (Electronic Lodgment Service) platform in itself a legacy and unreliable system.

ATO now confirms its determination to phase out ELS by 2015 onwards in favour of SBR (Standard Business Reporting) solution, a more effective and faster way of financial reporting.

What does this mean for the tax agent? After all, the best technologies used improperly do not help in the efficiency of overworked tax practitioners. Will simply changing the ATO’s infrastructure help tax agents to be more efficient? The answer is no.

As more and more applications are moving towards the cloud, statutory and financial reporting is non exceptional. Australia’s first ITR on Cloud solution via the GovReports platform was released last September, a fully managed solution that brings the flexibility of desktop solutions and multiplies it with the power of the cloud.

Here are top three reasons why tax payers should move to ITR on Cloud with GovReports.
• Access anytime-anywhere. Tax agents are no longer restricted by their desktop. You can bring tax returns straight to your clients by offering a personalised service via GovReports (Tax Software) secure cloud platform.
• Nothing to install or update. GovReports (Tax Software) is a fully managed service. ATO updates such as forms and schedules are updated without having to reinstall software.
• GovReports (Tax Software) acts as an electronic archive to securely keep client attachments online reducing the need for desktop clutter during tax season. Using latest storage solutions everything is storable and searchable.
GovReports (Tax Software) as a one-stop-shop for financial reporting brings state of the art technologies to traditional platform. And as one GovReports’ clients reference:

‘Using GovReports (Tax Software) in comparison to Agent Portal is like comparing driving a Mercedes Benz with Model T-Ford. They both achieve the same result but the ride is very different’

SHIBA INU: An In-Depth Exploration of the Hottest Meme Coin in 2021

In the ever-evolving world of cryptocurrencies, one digital token managed to steal the spotlight in an unexpected fashion in 2021: SHIBA INU. Born out of the meme culture and taking inspiration from the Shiba Inu dog meme, SHIBA INU is a decentralized cryptocurrency that left an indelible mark on the crypto community and beyond.

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The Enthusiastic SHIBA INU Community
What distinguishes SHIBA INU isn’t just its meme-based origin, but the passionate and dedicated community that has rallied around it. The “Shib Army,” as the SHIBA INU community is affectionately known, is a dynamic and engaged group of cryptocurrency enthusiasts who have fully embraced the meme coin. On platforms like Twitter and Reddit, discussions, memes, and updates related to SHIBA INU abound. The influence of notable figures and celebrities has also played a significant role in catapulting SHIBA INU into the limelight.

The Remarkable Ascent of SHIBA INU
The Intricacies of SHIBA INU Tokenomics
SHIBA INU’s tokenomics are a cornerstone of its appeal. The cryptocurrency boasts an exceptionally large total supply, setting it apart from its digital counterparts. This extensive supply has piqued the interest of investors, sparking intense debates and discussions about its potential impact on the token’s value. Additionally, SHIBA INU’s decentralized ownership structure underscores its community-driven ethos. The creators of the project, the so-called “Woofpaper” team, executed substantial token burns and relinquished control to the community, cementing its decentralized character.

SHIBA INU’s Rapid Price Surge
The year 2021 witnessed SHIBA INU’s price skyrocket, defying expectations and surprising even seasoned cryptocurrency enthusiasts. The coin’s price chart resembles a roller coaster ride, marked by steep climbs and sudden corrections. What fueled this extraordinary surge?

Several factors played a pivotal role in driving SHIBA INU’s rapid ascent. Foremost among them were celebrity endorsements and mentions by influential figures. Tweets and social media posts from individuals like Elon Musk and Vitalik Buterin mentioning SHIBA INU sent shockwaves through the crypto sphere.

Retail investors also played a significant role in the SHIBA INU phenomenon. As retail traders sought the next big cryptocurrency opportunity, many turned to SHIBA INU due to its low price and high potential for substantial gains. Social media platforms, which often serve as gathering places for retail investors, amplified the buzz surrounding SHIBA INU.

Furthermore, SHIBA INU capitalized on the surge in popularity of meme coins. Meme coins, characterized by their humorous and often absurd origins, enjoyed considerable attention in 2021. SHIBA INU’s meme-inspired branding aligned perfectly with this trend, making it an attractive choice for those looking for an entertaining and potentially profitable investment.

Frequently Asked Questions and Answers
FAQ 1: What is SHIBA INU?

SHIBA INU is a cryptocurrency inspired by the Shiba Inu dog meme. It’s a decentralized project driven by the community and gained fame due to its meme-inspired roots.

FAQ 2: How did SHIBA INU gain popularity?

SHIBA INU’s rise to prominence can be attributed to active promotion and engagement within the crypto community, especially on platforms like Twitter and Reddit.

FAQ 3: What are the key features of SHIBA INU’s tokenomics?

SHIBA INU’s tokenomics include an extensive total supply, decentralized ownership, and various token burns and incentives designed to benefit holders.

FAQ 4: Why did SHIBA INU’s value surge so dramatically in 2021?

SHIBA INU’s rapid price surge can be attributed to factors such as celebrity endorsements, heightened retail interest, and the broader trend of meme coins capturing the spotlight.

FAQ 5: Is SHIBA INU a wise investment?

The decision to invest in SHIBA INU or any cryptocurrency should be based on individual research and risk tolerance. Cryptocurrency investments are inherently volatile, and prospective investors should exercise prudence and conduct due diligence. While SHIBA INU made waves in 2021, its future performance remains uncertain and subject to market dynamics. As with any investment, it’s crucial to consider your financial objectives and risk tolerance before venturing into the world of cryptocurrencies.

What is machine vision? Everything you need to know

Machine vision is a systems engineering discipline and can be considered distinct from computer vision which is a form of computer science and not done through a tangible piece of hardware such as a vision box or camera attached to a robot. Machine vision is the body of a system and computer vision is the intelligence of the system, similar to how a computer is a frame for what goes inside such as the computer chips that power up the computer.

Without computer vision, machine vision can’t work as it’s the brains behind processing the information. It’s important to note that when computer vision technology advances it increases the possibility of potential applications for machine vision increases respectively. ClearView Imaging makes the valid point that computer vision can process images that might not be photos or videos and instead be an image from a thermal or infrared sensor, a motion detector, or other sources.

Machine vision systems have been in operation since the 1950s and it was between 1980 to 1990 where the technology really started to take off and grow in popularity.

Machine vision is becoming increasingly popular within industrial automation environments while also becoming more frequently used in other industries such as security, autonomous vehicles, food production, packaging, and logistics while also being included in robots and drones. Machine vision can be integrated with technologies such as deep learning and machine learning to help businesses using the technology to understand data better and optimise the business for higher efficiency with an example being how BMW uses the technology alongside AI and machine learning to increase efficiency.